Okeanis Eco Tankers Corp. (NYSE:ECO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of Okeanis Eco Tankers Corp. (NYSE:ECO) by 67.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,831 shares of the company’s stock after selling 63,783 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.10% of Okeanis Eco Tankers worth $1,006,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in Okeanis Eco Tankers in the 3rd quarter worth about $383,000. Jane Street Group LLC acquired a new position in shares of Okeanis Eco Tankers during the third quarter worth approximately $206,000. Wexford Capital LP grew its holdings in Okeanis Eco Tankers by 7.1% in the 3rd quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock worth $728,000 after buying an additional 1,472 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Okeanis Eco Tankers in the 3rd quarter valued at approximately $1,169,000. Finally, PDT Partners LLC raised its stake in Okeanis Eco Tankers by 61.5% during the 3rd quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock valued at $663,000 after acquiring an additional 7,715 shares in the last quarter.

Okeanis Eco Tankers Stock Down 3.0 %

Okeanis Eco Tankers stock opened at $22.84 on Friday. The company’s 50-day moving average price is $21.97 and its two-hundred day moving average price is $27.56. The stock has a market cap of $735.21 million and a price-to-earnings ratio of 6.29. Okeanis Eco Tankers Corp. has a 52 week low of $18.79 and a 52 week high of $36.69. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 1.48.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Friday, November 8th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.09 by $0.36. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. The firm had revenue of $84.93 million for the quarter, compared to analysts’ expectations of $74.61 million. On average, analysts expect that Okeanis Eco Tankers Corp. will post 3.13 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.80 annualized dividend and a yield of 7.88%. Okeanis Eco Tankers’s dividend payout ratio is currently 48.48%.

Analyst Upgrades and Downgrades

Separately, B. Riley decreased their price target on Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th.

About Okeanis Eco Tankers

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.