Insider Selling: Tsakos Energy Navigation (NYSE:TEN) CFO Sells $530,000.00 in Stock

Key Points

• Tsakos Energy Navigation CFO Theoharrys Evgenios Kosmatos sold 10,000 shares at $53 each for total proceeds of $530,000, reducing his direct holdings by 40.49% to 14,700 shares.
• TEN shares fell 5.2% to $48.26, while the company’s latest quarterly results exceeded expectations with $3.14 in EPS and $246.28 million in revenue.
• Analyst sentiment remains mixed: one analyst rates the stock a Buy and two rate it Hold, producing a consensus Hold rating and an average price target of $29.50.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) CFO Theoharrys Evgenios Kosmatos sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $53.00, for a total transaction of $530,000.00. Following the completion of the transaction, the chief financial officer directly owned 14,700 shares of the company's stock, valued at approximately $779,100. The trade was a 40.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Tsakos Energy Navigation Stock Down 5.2%

TEN traded down $2.66 during trading hours on Tuesday, hitting $48.26. 747,279 shares of the company's stock were exchanged, compared to its average volume of 376,997. The firm has a market cap of $1.45 billion, a P/E ratio of 4.89 and a beta of -0.26. Tsakos Energy Navigation Ltd has a 12-month low of $20.50 and a 12-month high of $53.84. The company has a current ratio of 1.40, a quick ratio of 1.35 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average of $42.26 and a 200 day moving average of $40.07.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last posted its quarterly earnings results on Thursday, September 10th. The company reported $3.14 EPS for the quarter, topping the consensus estimate of $2.93 by $0.21. The business had revenue of $246.28 million during the quarter, compared to the consensus estimate of $238.87 million. Tsakos Energy Navigation had a net margin of 33.81% and a return on equity of 29.44%.

Hedge Funds Weigh In On Tsakos Energy Navigation

Several hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in Tsakos Energy Navigation by 56.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the company's stock valued at $81,000 after buying an additional 743 shares in the last quarter. Savant Capital LLC raised its stake in Tsakos Energy Navigation by 6.6% in the 4th quarter. Savant Capital LLC now owns 13,356 shares of the company's stock valued at $299,000 after purchasing an additional 825 shares during the last quarter. State Street Corp lifted its stake in shares of Tsakos Energy Navigation by 2.4% during the second quarter. State Street Corp now owns 65,687 shares of the company's stock valued at $2,323,000 after buying an additional 1,522 shares during the period. Main Street Financial Solutions LLC grew its position in shares of Tsakos Energy Navigation by 0.6% in the fourth quarter. Main Street Financial Solutions LLC now owns 396,909 shares of the company's stock valued at $8,899,000 after purchasing an additional 2,445 shares during the period. Finally, Royal Bank of Canada grew its holdings in Tsakos Energy Navigation by 638.2% in the 1st quarter. Royal Bank of Canada now owns 2,997 shares of the company's stock valued at $118,000 after buying an additional 2,591 shares during the period. 19.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TEN has been the topic of several analyst reports. Wall Street Zen raised shares of Tsakos Energy Navigation from a "buy" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings restated a "hold (c)" rating on shares of Tsakos Energy Navigation in a report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $29.50.

About Tsakos Energy Navigation

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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