Tsakos Energy Navigation Ltd $TEN Shares Acquired by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Tsakos Energy Navigation stake by 15.2% in the first quarter, owning 466,225 shares valued at approximately $18.4 million, or 1.55% of the company.
• TEN reported quarterly EPS of $2.72, beating estimates by $0.65, while revenue of $223.1 million also exceeded analyst expectations. The company reported a 24.81% net margin and 23.26% return on equity.
• Analyst sentiment remains cautious, with one Buy rating and three Holds producing a consensus “Hold” rating and a $29.50 average price target. The company also paid a $1.00-per-share dividend.

Renaissance Technologies LLC lifted its holdings in Tsakos Energy Navigation Ltd (NYSE:TEN - Free Report) by 15.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 466,225 shares of the company's stock after buying an additional 61,428 shares during the quarter. Renaissance Technologies LLC owned 1.55% of Tsakos Energy Navigation worth $18,397,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in shares of Tsakos Energy Navigation by 312.3% during the 2nd 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 period. Barclays PLC acquired a new stake in shares of Tsakos Energy Navigation in the fourth quarter valued at about $36,000. Smartleaf Asset Management LLC boosted its holdings in Tsakos Energy Navigation by 186.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company's stock worth $54,000 after buying an additional 1,585 shares in the last quarter. Summit Securities Group LLC acquired a new position in Tsakos Energy Navigation during the fourth quarter worth about $56,000. Finally, Raymond James Financial Inc. acquired a new position in Tsakos Energy Navigation during the second quarter worth about $58,000. Hedge funds and other institutional investors own 19.24% of the company's stock.

Analyst Upgrades and Downgrades

TEN has been the subject of a number of research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Tsakos Energy Navigation in a research report on Monday, July 6th. Wall Street Zen raised Tsakos Energy Navigation from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $29.50.

Tsakos Energy Navigation Stock Performance

Shares of TEN opened at $39.57 on Friday. Tsakos Energy Navigation Ltd has a 12-month low of $18.80 and a 12-month high of $45.85. The stock has a market cap of $1.19 billion, a P/E ratio of 6.44 and a beta of -0.28. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average of $38.52 and a two-hundred day moving average of $36.19.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.07 by $0.65. Tsakos Energy Navigation had a net margin of 24.81% and a return on equity of 23.26%. The business had revenue of $223.12 million for the quarter, compared to analyst estimates of $208.77 million.

Tsakos Energy Navigation Dividend Announcement

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

Tsakos Energy Navigation Profile

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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