Tsakos Energy Navigation Ltd $TEN Stake Decreased by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Tsakos Energy Navigation stake by 57.3% in the second quarter, selling 37,443 shares and retaining 27,891 shares valued at approximately $987,000.
• Institutional ownership stands at 19.24%, with several investors—including Bank of America, Walleye Capital, and Arrowstreet Capital—boosting their positions.
• Tsakos reported quarterly EPS of $3.14, exceeding the $2.93 consensus estimate, while revenue of $246.28 million also topped expectations. Analysts maintain a consensus “Hold” rating with a $29.50 target price.

Engineers Gate Manager LP decreased its holdings in Tsakos Energy Navigation Ltd (NYSE:TEN - Free Report) by 57.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,891 shares of the company's stock after selling 37,443 shares during the quarter. Engineers Gate Manager LP owned 0.09% of Tsakos Energy Navigation worth $987,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of TEN. Sagil Capital LLP increased its position in shares of Tsakos Energy Navigation by 13.7% during the 4th quarter. Sagil Capital LLP now owns 861,366 shares of the company's stock valued at $19,312,000 after purchasing an additional 103,801 shares during the period. Bank of America Corp DE boosted its stake in Tsakos Energy Navigation by 214.4% during the first quarter. Bank of America Corp DE now owns 92,833 shares of the company's stock valued at $3,663,000 after buying an additional 63,304 shares in the last quarter. Marnell Management LLC acquired a new position in Tsakos Energy Navigation during the fourth quarter worth about $762,000. Walleye Capital LLC raised its position in Tsakos Energy Navigation by 654.1% in the first quarter. Walleye Capital LLC now owns 286,314 shares of the company's stock worth $11,298,000 after acquiring an additional 248,345 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Tsakos Energy Navigation by 22.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company's stock valued at $32,114,000 after acquiring an additional 151,195 shares during the last quarter. 19.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TEN. Wall Street Zen upgraded Tsakos Energy Navigation from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tsakos Energy Navigation in a report on Monday, July 6th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $29.50.

Tsakos Energy Navigation Trading Down 1.4%

Shares of NYSE TEN opened at $52.06 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. Tsakos Energy Navigation Ltd has a one year low of $20.50 and a one year high of $53.84. The business has a 50-day moving average price of $42.02 and a two-hundred day moving average price of $39.95. The firm has a market capitalization of $1.57 billion, a PE ratio of 5.27 and a beta of -0.26.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last announced its quarterly earnings data on Thursday, September 10th. The company reported $3.14 EPS for the quarter, beating analysts' consensus estimates of $2.93 by $0.21. Tsakos Energy Navigation had a net margin of 33.81% and a return on equity of 46.44%. The firm had revenue of $246.28 million for the quarter, compared to the consensus estimate of $238.87 million.

Insider Transactions at Tsakos Energy Navigation

In other Tsakos Energy Navigation news, Director Clio Hatzimichalis sold 5,000 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $41.07, for a total value of $205,350.00. Following the transaction, the director directly owned 5,000 shares of the company's stock, valued at $205,350. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.41% of the company's stock.

Tsakos Energy Navigation Profile

Tsakos Energy Navigation Ltd. is a Greek-based international tanker company that owns and operates vessels serving the global energy transportation industry. Its fleet has historically included crude oil tankers, product tankers, shuttle tankers and liquefied natural gas carriers, enabling the company to transport crude oil, refined petroleum products and other energy commodities.

Founded in 1993, Tsakos Energy Navigation developed a diversified fleet serving oil companies, refiners, commodity traders and other charterers.

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