Tsakos Energy Navigation (NYSE:TEN) COO Sells $266,000.00 in Stock

Key Points

• COO Georgios Saroglou sold 5,000 Tsakos Energy Navigation shares at an average price of $53.20, generating $266,000. His remaining stake fell 11.9% to 37,000 shares.
• Tsakos shares traded down 4.7% to $53.76, despite strong quarterly results: EPS of $3.14 beat estimates by $0.21, while revenue of $246.28 million exceeded expectations.
• Analyst sentiment remains mixed, with one Buy and two Hold ratings producing a consensus Hold rating and an average price target of $29.50; institutional investors own 19.24% of the company.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) COO Georgios Saroglou sold 5,000 shares of the business's stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $53.20, for a total transaction of $266,000.00. Following the transaction, the chief operating officer owned 37,000 shares of the company's stock, valued at approximately $1,968,400. This represents a 11.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Tsakos Energy Navigation Trading Down 4.7%

NYSE:TEN traded down $2.65 during trading hours on Wednesday, hitting $53.76. The stock had a trading volume of 523,484 shares, compared to its average volume of 385,457. The business's 50 day moving average is $45.54 and its 200-day moving average is $41.58. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.35 and a current ratio of 1.40. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 5.45 and a beta of -0.10. Tsakos Energy Navigation Ltd has a one year low of $21.31 and a one year high of $56.73.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TEN shares. Wall Street Zen raised shares of Tsakos Energy Navigation from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Tsakos Energy Navigation in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $29.50.

Hedge Funds Weigh In On Tsakos Energy Navigation

Large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its holdings in shares of 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 buying an additional 151,195 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Tsakos Energy Navigation by 15.2% during the first quarter. Renaissance Technologies LLC now owns 466,225 shares of the company's stock worth $18,397,000 after buying an additional 61,428 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in Tsakos Energy Navigation during the first quarter worth $15,688,000. Walleye Capital LLC raised its position in Tsakos Energy Navigation by 654.1% during 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, Main Street Financial Solutions LLC raised its position in Tsakos Energy Navigation by 0.6% during the fourth quarter. Main Street Financial Solutions LLC now owns 396,909 shares of the company's stock worth $8,899,000 after acquiring an additional 2,445 shares in the last quarter. Institutional investors and hedge funds own 19.24% of the company's stock.

About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd. is an international marine transportation company focused primarily on the ownership and operation of crude oil and refined petroleum product tankers. Its fleet has historically included a range of vessels serving the global energy industry, including Aframax, Suezmax and other tanker classes, as well as specialized vessels such as shuttle tankers.

The company transports crude oil, petroleum products and other energy-related cargoes for major oil companies, refiners, trading firms and government-affiliated organizations.

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