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

Okeanis Eco Tankers Corp. (NYSE:ECO) gapped down before the market opened on Wednesday . The stock had previously closed at $38.90, but opened at $37.69. Okeanis Eco Tankers shares last traded at $37.85, with a volume of 351,116 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Clarkson Capital raised Okeanis Eco Tankers to a “hold” rating in a report on Friday, November 14th. Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. UBS Group cut shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.00.

Okeanis Eco Tankers Stock Performance

The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.69 and a current ratio of 2.00. The business’s fifty day moving average price is $36.25 and its 200-day moving average price is $31.10. The stock has a market cap of $1.24 billion, a PE ratio of 15.89 and a beta of 0.05.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.48. Okeanis Eco Tankers had a net margin of 21.92% and a return on equity of 18.05%. The company had revenue of $90.60 million for the quarter, compared to the consensus estimate of $51.29 million. As a group, equities research analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 7.9%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. The ex-dividend date was Tuesday, December 2nd. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 125.52%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new stake in shares of Okeanis Eco Tankers in the 2nd quarter worth $25,000. Quarry LP bought a new position in shares of Okeanis Eco Tankers in the third quarter worth about $29,000. State of Wyoming purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at about $107,000. Verition Fund Management LLC bought a new position in shares of Okeanis Eco Tankers during the 3rd quarter valued at approximately $211,000. Finally, S.E.E.D. Planning Group LLC bought a new position in shares of Okeanis Eco Tankers during the 3rd quarter valued at approximately $234,000.

About Okeanis Eco Tankers

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.