Navellier & Associates Inc. Raises Stock Position in Tsakos Energy Navigation Ltd $TEN

Key Points

• Navellier & Associates increased its Tsakos Energy Navigation stake by 297% in the second quarter, owning 96,633 shares valued at approximately $3.4 million. Institutional investors collectively hold 19.24% of the company.
• Analyst sentiment remains cautious: one analyst rates TEN a Buy and two rate it Hold, resulting in an overall “Hold” consensus and an average price target of $29.50.
• Tsakos shares opened at $42.52, near their 12-month high of $45.85, while the company recently paid a $1.00-per-share dividend. A company director also sold 5,000 shares at an average price of $41.07.

Navellier & Associates Inc. lifted its position in shares of Tsakos Energy Navigation Ltd (NYSE:TEN - Free Report) by 297.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,633 shares of the company's stock after acquiring an additional 72,293 shares during the quarter. Navellier & Associates Inc. owned 0.32% of Tsakos Energy Navigation worth $3,418,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TEN. EverSource Wealth Advisors LLC raised its holdings in Tsakos Energy Navigation by 312.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company's stock worth $25,000 after purchasing an additional 993 shares during the last quarter. Barclays PLC acquired a new stake in Tsakos Energy Navigation in the fourth quarter valued at $36,000. Smartleaf Asset Management LLC increased its position in shares of Tsakos Energy Navigation by 186.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company's stock valued at $54,000 after buying an additional 1,585 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Tsakos Energy Navigation during the 4th quarter worth $56,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Tsakos Energy Navigation during the 2nd quarter worth $58,000. Institutional investors and hedge funds own 19.24% of the company's stock.

Insider Transactions at Tsakos Energy Navigation

In related news, Director Clio Hatzimichalis sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $41.07, for a total value of $205,350.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately $205,350. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.41% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Tsakos Energy Navigation in a research report on Monday, July 6th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $29.50.

Tsakos Energy Navigation Stock Performance

Shares of NYSE:TEN opened at $42.52 on Friday. The business has a 50-day moving average of $39.46 and a two-hundred day moving average of $38.25. The firm has a market capitalization of $1.28 billion, a PE ratio of 6.93 and a beta of -0.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.92. Tsakos Energy Navigation Ltd has a 12 month low of $20.50 and a 12 month high of $45.85.

Tsakos Energy Navigation Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 23rd were given a dividend of $1.00 per share. This represents a yield of 507.0%. The ex-dividend date of this dividend was Thursday, July 23rd. Tsakos Energy Navigation's dividend payout ratio is 32.57%.

About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd. NYSE: TEN is an international shipping company specializing in the transportation of crude oil and refined petroleum products. Founded in 1993 by Nikolas P. Tsakos, the company has built a reputation for operating a modern, well-maintained fleet of double-hull tankers. Tsakos Energy Navigation is organized around both ownership and technical management of vessels, offering chartering, commercial operations and crew services under one umbrella.

The company’s fleet consists primarily of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium-range (MR) and Handy product carriers.

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