Walleye Capital LLC Grows Stake in Tsakos Energy Navigation Ltd $TEN

Key Points

• Walleye Capital sharply increased its position in Tsakos Energy Navigation, boosting its stake by 654.1% in the first quarter to 286,314 shares worth about $11.3 million.
• Company CEO Nikolaos Tsakos bought 12,500 shares at $39.92 each, a transaction worth $499,000, signaling insider confidence in the stock.
• Tsakos Energy Navigation recently beat quarterly earnings expectations, reporting $2.72 EPS on revenue of $223.12 million, and it also announced a $1.00 per-share dividend payable July 30.

Walleye Capital LLC boosted its stake in shares of Tsakos Energy Navigation Ltd (NYSE:TEN - Free Report) by 654.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 286,314 shares of the company's stock after acquiring an additional 248,345 shares during the quarter. Walleye Capital LLC owned about 0.95% of Tsakos Energy Navigation worth $11,298,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Osaic Holdings Inc. boosted its holdings in shares of Tsakos Energy Navigation by 9.6% in the 2nd quarter. Osaic Holdings Inc. now owns 7,821 shares of the company's stock worth $150,000 after purchasing an additional 684 shares during the period. Savant Capital LLC raised its holdings in Tsakos Energy Navigation by 6.6% during the 4th quarter. Savant Capital LLC now owns 13,356 shares of the company's stock valued at $299,000 after buying an additional 825 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Tsakos Energy Navigation by 312.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company's stock valued at $25,000 after buying an additional 993 shares during the period. Tudor Investment Corp ET AL lifted its position in Tsakos Energy Navigation by 1.9% in the fourth quarter. Tudor Investment Corp ET AL now owns 78,555 shares of the company's stock worth $1,761,000 after buying an additional 1,445 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Tsakos Energy Navigation by 13.2% during the second quarter. Tidal Investments LLC now owns 12,733 shares of the company's stock worth $244,000 after buying an additional 1,482 shares during the period. 19.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Tsakos Energy Navigation

In other news, CEO Nikolaos Tsakos purchased 12,500 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average price of $39.92 per share, for a total transaction of $499,000.00. Following the completion of the acquisition, the chief executive officer owned 906,000 shares of the company's stock, valued at approximately $36,167,520. This trade represents a 1.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.41% of the company's stock.

Tsakos Energy Navigation Stock Down 1.8%

Shares of TEN opened at $39.49 on Thursday. The firm has a fifty day moving average price of $38.98 and a 200-day moving average price of $35.51. 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 firm has a market capitalization of $1.19 billion, a P/E ratio of 6.43 and a beta of -0.28. Tsakos Energy Navigation Ltd has a 12-month low of $18.80 and a 12-month high of $45.85.

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

Tsakos Energy Navigation Announces Dividend

The business also recently announced a dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 23rd will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a dividend yield of 506.0%. Tsakos Energy Navigation's dividend payout ratio (DPR) is 16.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Tsakos Energy Navigation in a research note on Monday, July 6th. Wall Street Zen raised shares of Tsakos Energy Navigation from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $29.50.

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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