Okeanis Eco Tankers (NYSE:ECO) Reaches New 1-Year Low – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares hit a new 52-week low on Saturday . The stock traded as low as $18.15 and last traded at $18.58, with a volume of 403929 shares trading hands. The stock had previously closed at $20.82.

Analyst Ratings Changes

Separately, B. Riley cut their target price on shares of 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.

Okeanis Eco Tankers Trading Down 10.8 %

The business has a fifty day moving average price of $22.62 and a 200-day moving average price of $24.62. 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 company has a market cap of $598.00 million, a P/E ratio of 5.50 and a beta of 0.04.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.19. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%. The business had revenue of $85.19 million during the quarter, compared to analysts’ expectations of $82.46 million. On average, analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.54%. Okeanis Eco Tankers’s payout ratio is presently 41.42%.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of hedge funds have recently bought and sold shares of ECO. PDT Partners LLC grew its position in shares of Okeanis Eco Tankers by 6.2% during the 4th quarter. PDT Partners LLC now owns 21,504 shares of the company’s stock worth $457,000 after purchasing an additional 1,250 shares in the last quarter. Citadel Advisors LLC grew its position in Okeanis Eco Tankers by 21.7% during the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company’s stock worth $279,000 after buying an additional 2,340 shares in the last quarter. Wells Fargo & Company MN bought a new position in Okeanis Eco Tankers during the 4th quarter worth $78,000. Bank of America Corp DE raised its holdings in Okeanis Eco Tankers by 25.9% in the 4th quarter. Bank of America Corp DE now owns 23,307 shares of the company’s stock valued at $496,000 after acquiring an additional 4,798 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Okeanis Eco Tankers in the 3rd quarter valued at $206,000.

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.