Okeanis Eco Tankers Corp. (NYSE:ECO) Position Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in Okeanis Eco Tankers Corp. (NYSE:ECO) by 67.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 30,831 shares of the company’s stock after selling 63,783 shares during the period. JPMorgan Chase & Co.’s holdings in Okeanis Eco Tankers were worth $1,006,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lighthouse Investment Partners LLC acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter worth $2,086,000. Quadrature Capital Ltd purchased a new position in Okeanis Eco Tankers in the 3rd quarter worth about $1,169,000. BNP Paribas Financial Markets raised its holdings in Okeanis Eco Tankers by 409.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock worth $661,000 after buying an additional 16,280 shares during the period. Jane Street Group LLC acquired a new stake in Okeanis Eco Tankers during the 3rd quarter worth about $206,000. Finally, Marshall Wace LLP purchased a new stake in Okeanis Eco Tankers during the second quarter valued at about $247,000.

Wall Street Analyst Weigh In

Separately, B. Riley dropped their target price on shares of Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th.

Okeanis Eco Tankers Price Performance

Shares of NYSE:ECO opened at $22.84 on Friday. The company’s fifty day moving average is $21.97 and its two-hundred day moving average is $27.56. The company has a market cap of $735.21 million and a P/E ratio of 6.29. Okeanis Eco Tankers Corp. has a 12-month low of $18.79 and a 12-month high of $36.69. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 1.48.

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

Okeanis Eco Tankers Cuts Dividend

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

Okeanis Eco Tankers Profile

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.