Tsakos Energy Navigation (NYSE:TEN) Trading Down 4.3% - Time to Sell?

Key Points

• Tsakos Energy Navigation shares fell 4.3% to about $40.46 on unusually light trading volume, with only 25,165 shares changing hands versus an average of 360,579.
• Analysts maintain a generally cautious outlook: the stock has an average “Hold” rating and a $29.50 price target, below its recent trading price.
• The company paid a $1.00 dividend, while an insider sold 5,000 shares at an average price of $41.07. Institutional investors and hedge funds own 19.24% of the stock.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) dropped 4.3% on Wednesday . The company traded as low as $40.74 and last traded at $40.4550. 25,165 shares changed hands during trading, a decline of 93% from the average daily volume of 360,579 shares. The stock had previously closed at $42.27.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tsakos Energy Navigation in a report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $29.50.

Tsakos Energy Navigation Stock Down 5.1%

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 cap of $1.21 billion, a price-to-earnings ratio of 6.53 and a beta of -0.28. The firm's 50 day simple moving average is $39.25 and its two-hundred day simple moving average is $38.01.

Tsakos Energy Navigation Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 23rd were paid a $1.00 dividend. This represents a dividend yield of 507.0%. The ex-dividend date was Thursday, July 23rd. Tsakos Energy Navigation's payout ratio is 32.57%.

Insider Transactions at Tsakos Energy Navigation

In related news, Director Clio Hatzimichalis sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $41.07, for a total transaction of $205,350.00. Following the sale, the director owned 5,000 shares of the company's stock, valued at $205,350. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Tsakos Energy Navigation

Several large investors have recently modified their holdings of TEN. Sagil Capital LLP raised its stake in Tsakos Energy Navigation by 13.7% in the fourth 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Tsakos Energy Navigation by 602.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company's stock worth $15,917,000 after buying an additional 711,313 shares in the last quarter. Arrowstreet Capital Limited Partnership increased 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 buying an additional 151,195 shares during the period. Renaissance Technologies LLC raised its position in shares of Tsakos Energy Navigation by 15.2% in the 1st quarter. Renaissance Technologies LLC now owns 466,225 shares of the company's stock valued at $18,397,000 after buying an additional 61,428 shares in the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new position in shares of Tsakos Energy Navigation in the 1st quarter valued at approximately $15,688,000. 19.24% of the stock is owned by institutional investors and hedge funds.

About Tsakos Energy Navigation

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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