Tsakos Energy Navigation Ltd (NYSE:TEN) Short Interest Update

Key Points

• Short interest in Tsakos Energy Navigation Ltd decreased by 37.1% in July, with a total of 611,600 shares sold short, equating to approximately 2.9% of the company's stock.
• Institutional ownership in Tsakos Energy Navigation stands at 19.24%, with significant increases from various hedge funds, notably a 602.2% increase by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.
• Tsakos Energy Navigation recently announced a $0.60 dividend, yielding 570.0%, and reported earnings per share of $0.92, surpassing analysts' expectations.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 611,600 shares, adropof37.1% from the July 15th total of 972,600 shares. Currently,2.9% of the company's stock are sold short. Based on an average daily trading volume, of 325,300 shares, the short-interest ratio is currently 1.9 days. Based on an average daily trading volume, of 325,300 shares, the short-interest ratio is currently 1.9 days. Currently,2.9% of the company's stock are sold short.

Tsakos Energy Navigation Stock Performance

Shares of TEN stock traded up $0.14 during trading hours on Friday, hitting $21.40. 458,528 shares of the company were exchanged, compared to its average volume of 260,239. The firm has a fifty day simple moving average of $20.07 and a 200 day simple moving average of $18.01. The company has a current ratio of 1.11, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Tsakos Energy Navigation has a 52-week low of $13.40 and a 52-week high of $26.90. The stock has a market capitalization of $644.78 million, a price-to-earnings ratio of 4.77 and a beta of -0.09.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last issued its quarterly earnings results on Tuesday, June 17th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.63. Tsakos Energy Navigation had a net margin of 20.00% and a return on equity of 14.17%. The company had revenue of $153.51 million during the quarter, compared to analyst estimates of $154.01 million. During the same quarter last year, the business posted $1.05 EPS. Research analysts predict that Tsakos Energy Navigation will post 3.44 earnings per share for the current fiscal year.

Tsakos Energy Navigation Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, July 18th. Investors of record on Monday, July 14th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, July 14th. This represents a yield of 570.0%. Tsakos Energy Navigation's dividend payout ratio (DPR) is 26.73%.

Wall Street Analyst Weigh In

Several research firms have commented on TEN. Wall Street Zen lowered shares of Tsakos Energy Navigation from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th. Jefferies Financial Group increased their price objective on shares of Tsakos Energy Navigation from $18.00 to $21.00 and gave the company a "hold" rating in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $30.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tsakos Energy Navigation by 602.2% in the 2nd 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 during the period. Jump Financial LLC raised its stake in shares of Tsakos Energy Navigation by 693.1% during the 2nd quarter. Jump Financial LLC now owns 124,223 shares of the company's stock valued at $2,384,000 after purchasing an additional 108,561 shares during the period. New York State Common Retirement Fund bought a new stake in shares of Tsakos Energy Navigation during the 2nd quarter valued at $761,000. JPMorgan Chase & Co. bought a new stake in shares of Tsakos Energy Navigation during the 2nd quarter valued at $672,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of Tsakos Energy Navigation during the 2nd quarter valued at $384,000. 19.24% of the stock is owned by institutional investors.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd. engages in the provision of seaborne crude oil and petroleum product transportation services. Its activities include the operation of crude tankers, product tankers, and liquefied natural gas carriers. The company was founded by Nikolas P. Tsakos and Michael Gordon Jolliffee in July 1993 and is headquartered in Athens, Greece.