Okeanis Eco Tankers (NYSE:ECO) Stock Price Down 3% – Should You Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO) was down 3% during mid-day trading on Tuesday . The company traded as low as $23.79 and last traded at $23.86. Approximately 39,152 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 146,063 shares. The stock had previously closed at $24.60.

Okeanis Eco Tankers Stock Performance

The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 1.46. The firm has a 50 day moving average of $22.27 and a 200-day moving average of $22.46. The company has a market cap of $769.44 million, a P/E ratio of 7.07 and a beta of -0.05.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Wednesday, May 14th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.12. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.40%. The company had revenue of $48.60 million for the quarter, compared to analysts’ expectations of $46.91 million. As a group, sell-side analysts anticipate that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.86%. The ex-dividend date was Monday, March 3rd. Okeanis Eco Tankers’s dividend payout ratio is presently 51.61%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several institutional investors have recently added to or reduced their stakes in ECO. Wells Fargo & Company MN acquired a new stake in Okeanis Eco Tankers in the fourth quarter worth about $78,000. B. Riley Wealth Advisors Inc. acquired a new stake in Okeanis Eco Tankers in the fourth quarter worth about $213,000. Aristides Capital LLC purchased a new stake in shares of Okeanis Eco Tankers during the fourth quarter valued at $227,000. Citadel Advisors LLC grew its holdings in shares of Okeanis Eco Tankers by 21.7% during the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company’s stock valued at $279,000 after buying an additional 2,340 shares during the last quarter. Finally, Triumph Capital Management purchased a new stake in shares of Okeanis Eco Tankers during the first quarter valued at $440,000.

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.