Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Should You Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $51.19, but opened at $49.02. Okeanis Eco Tankers shares last traded at $48.1240, with a volume of 76,328 shares changing hands.

Wall Street Analysts Forecast Growth

ECO has been the topic of a number of recent analyst reports. Pareto Securities downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective on the stock. in a research report on Monday. Clarkson Capital downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings downgraded shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 25th. Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, Wall Street Zen downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Okeanis Eco Tankers presently has an average rating of “Moderate Buy” and an average target price of $51.89.

Okeanis Eco Tankers Stock Performance

The stock’s 50-day simple moving average is $52.07 and its 200 day simple moving average is $44.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70. The company has a market capitalization of $1.89 billion, a PE ratio of 8.55 and a beta of 0.09.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.59. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. The business had revenue of $170.17 million during the quarter, compared to analysts’ expectations of $134.02 million. As a group, research analysts expect that Okeanis Eco Tankers Corp. will post 9.53 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Thursday, May 28th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 16.5%. The ex-dividend date is Thursday, May 28th. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 109.54%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Fifth Third Bancorp acquired a new position in shares of Okeanis Eco Tankers in the 1st quarter valued at $29,000. Quarry LP acquired a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Okeanis Eco Tankers by 102.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after buying an additional 532 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at $25,000. Finally, Royal Bank of Canada boosted its holdings in shares of Okeanis Eco Tankers by 29,762.5% in the 1st quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock valued at $121,000 after buying an additional 2,381 shares in the last quarter.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.

As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.