Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Time to Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares gapped down prior to trading on Tuesday . The stock had previously closed at $82.63, but opened at $77.83. Okeanis Eco Tankers shares last traded at $77.9580, with a volume of 652,672 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Wall Street Zen raised Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Pareto Securities downgraded Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target for the company. in a research note on Monday, May 25th. Finally, Weiss Ratings raised Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Okeanis Eco Tankers has a consensus rating of “Moderate Buy” and an average price target of $59.52.

Okeanis Eco Tankers Price Performance

The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76. The company’s fifty day moving average price is $65.38 and its 200 day moving average price is $56.27. The company has a market capitalization of $3.07 billion, a P/E ratio of 7.28 and a beta of -0.11.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.61 by $1.30. The business had revenue of $268.14 million for the quarter, compared to the consensus estimate of $220.28 million. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. As a group, sell-side analysts forecast that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 26.7%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, August 14th. Okeanis Eco Tankers’s payout ratio is presently 195.90%.

Insider Transactions at Okeanis Eco Tankers

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $59.99, for a total value of $4,104,515.80. Following the transaction, the director directly owned 1,347,038 shares of the company’s stock, valued at $80,808,809.62. This trade represents a 4.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ECO. Fifth Third Bancorp bought a new stake in Okeanis Eco Tankers during the first quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Okeanis Eco Tankers by 102.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after buying an additional 532 shares during the last quarter. Royal Bank of Canada boosted its stake in Okeanis Eco Tankers by 29,762.5% in the first 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. Public Employees Retirement System of Ohio bought a new position in Okeanis Eco Tankers in the second quarter valued at about $137,000. Finally, NewEdge Advisors LLC bought a new position in Okeanis Eco Tankers in the second quarter valued at about $149,000.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates a fleet of oceangoing tankers. The company primarily transports crude oil and refined petroleum products for energy companies, commodity traders and other commercial customers in international markets.

Its fleet is focused on large, modern and fuel-efficient vessels, including very large crude carriers (VLCCs), Suezmax crude oil tankers and large range 2 (LR2) product tankers. The company emphasizes environmentally efficient vessel designs and operational practices intended to reduce fuel consumption and emissions while serving global seaborne energy trade.

Okeanis Eco Tankers was established in 2018 and became publicly listed on the New York Stock Exchange in 2019 under the symbol ECO.