Okeanis Eco Tankers (NYSE:ECO) Sees Large Volume Increase – Here’s What Happened

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) saw unusually-strong trading volume on Thursday . Approximately 245,704 shares traded hands during mid-day trading, an increase of 41% from the previous session’s volume of 173,977 shares.The stock last traded at $37.6050 and had previously closed at $37.01.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Okeanis Eco Tankers in a research report on Wednesday, October 8th. Jefferies Financial Group started coverage on shares of Okeanis Eco Tankers in a report on Wednesday, July 23rd. They issued a “buy” rating and a $29.00 target price on the stock. Wall Street Zen raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. B. Riley raised their price target on Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Finally, Clarkson Capital raised Okeanis Eco Tankers to a “hold” rating in a report on Friday, November 14th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Okeanis Eco Tankers currently has a consensus rating of “Hold” and an average price target of $37.00.

Okeanis Eco Tankers Stock Up 0.0%

The company has a debt-to-equity ratio of 1.36, a current ratio of 1.96 and a quick ratio of 1.65. The company has a 50-day moving average of $31.89 and a two-hundred day moving average of $26.93. The company has a market capitalization of $1.19 billion and a PE ratio of 17.72.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.48. The firm had revenue of $59.95 million for the quarter, compared to analysts’ expectations of $51.29 million. Okeanis Eco Tankers had a return on equity of 15.81% and a net margin of 19.52%. Sell-side analysts anticipate that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, December 2nd will be given a $0.75 dividend. The ex-dividend date is Tuesday, December 2nd. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.1%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 125.52%.

Institutional Trading of Okeanis Eco Tankers

Several institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in Okeanis Eco Tankers in the 2nd quarter worth $25,000. Quarry LP purchased a new position in shares of Okeanis Eco Tankers in the third quarter valued at about $29,000. State of Wyoming bought a new position in shares of Okeanis Eco Tankers in the second quarter worth about $107,000. Verition Fund Management LLC bought a new position in shares of Okeanis Eco Tankers in the third quarter worth about $211,000. Finally, S.E.E.D. Planning Group LLC purchased a new stake in shares of Okeanis Eco Tankers during the third quarter worth about $234,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.