Tsakos Energy Navigation (NYSE:TEN) Shares Down 7.5% - Time to Sell?

Key Points

• Tsakos Energy Navigation shares fell 7.5% to $49.82, with trading volume 61% below the average session volume.
• Analysts maintain a generally positive outlook, with two Buy ratings and one Hold rating producing a “Moderate Buy” consensus; however, the average price target of $29.50 is well below the current share price.
• The company exceeded quarterly expectations, reporting EPS of $3.14 versus the $2.93 estimate and revenue of $246.28 million, while insiders sold 20,000 shares worth roughly $1.0 million over the past three months.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report)'s stock price dropped 7.5% on Monday. The company traded as low as $50.53 and last traded at $49.82. 148,794 shares were traded during mid-day trading, a decline of 61% from the average session volume of 384,257 shares. The stock had previously closed at $53.85.

Analysts Set New Price Targets

A number of research analysts have commented on TEN shares. Weiss Ratings raised shares of Tsakos Energy Navigation from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, October 26th. Wall Street Zen upgraded shares of Tsakos Energy Navigation from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 19th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $29.50.

Tsakos Energy Navigation Trading Down 7.9%

The firm has a market capitalization of $1.49 billion, a PE ratio of 5.02 and a beta of -0.04. The company's 50-day simple moving average is $48.70 and its 200 day simple moving average is $39.69. The company has a quick ratio of 1.35, a current ratio of 1.40 and a debt-to-equity ratio of 0.91.

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

Insider Activity at Tsakos Energy Navigation

In other news, Director Clio Hatzimichalis sold 5,000 shares of the business'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 completion of the transaction, the director owned 5,000 shares of the company's stock, valued at $205,350. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Georgios Saroglou sold 5,000 shares of the firm's stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $53.20, for a total value of $266,000.00. Following the sale, the chief operating officer directly owned 37,000 shares in the company, valued at approximately $1,968,400. This trade represents a 11.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 20,000 shares of company stock valued at $1,001,350 in the last three months. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in shares of Tsakos Energy Navigation by 214.4% during the 1st quarter. Bank of America Corp DE now owns 92,833 shares of the company's stock worth $3,663,000 after purchasing an additional 63,304 shares during the last quarter. Navellier & Associates Inc. boosted its stake in Tsakos Energy Navigation by 297.0% during the second quarter. Navellier & Associates Inc. now owns 96,633 shares of the company's stock worth $3,418,000 after buying an additional 72,293 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Tsakos Energy Navigation by 22.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company's stock worth $32,114,000 after buying an additional 151,195 shares during the period. Walleye Capital LLC increased its holdings in Tsakos Energy Navigation by 654.1% in the 1st quarter. Walleye Capital LLC now owns 286,314 shares of the company's stock valued at $11,298,000 after purchasing an additional 248,345 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Tsakos Energy Navigation in the 2nd quarter valued at $669,000. 19.24% of the stock is currently owned by institutional investors and hedge funds.

About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd. NYSE: TEN is an international energy transportation company engaged primarily in the ownership and operation of oceangoing tankers. Its fleet has transported crude oil, refined petroleum products, and other energy-related cargoes for major oil companies, commodity traders, and other commercial customers.

The company has operated a diversified fleet that has included crude oil tankers, product tankers, shuttle tankers, and liquefied natural gas carriers. Through its vessels and shipping services, Tsakos Energy Navigation serves global energy markets and supports the movement of petroleum and related products between major production, refining, storage, and consumption centers.

Founded in 1993, the company is part of the Tsakos maritime group, which has roots in Greece and a broader international shipping presence.

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