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 significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 611,600 shares, adecreaseof37.1% from the July 15th total of 972,600 shares. Approximately2.9% of the shares of the stock are sold short. Based on an average daily volume of 325,300 shares, the short-interest ratio is presently 1.9 days. Based on an average daily volume of 325,300 shares, the short-interest ratio is presently 1.9 days. Approximately2.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 purchasing an additional 711,313 shares during the period. Jump Financial LLC increased its holdings in shares of Tsakos Energy Navigation by 693.1% during the second quarter. Jump Financial LLC now owns 124,223 shares of the company's stock worth $2,384,000 after buying an additional 108,561 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Tsakos Energy Navigation during the second quarter worth approximately $761,000. JPMorgan Chase & Co. acquired a new stake in shares of Tsakos Energy Navigation during the second quarter worth approximately $672,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Tsakos Energy Navigation during the second quarter worth approximately $384,000. Institutional investors own 19.24% of the company's stock.

Tsakos Energy Navigation Stock Down 3.9%

Shares of NYSE TEN traded down $0.8130 during mid-day trading on Tuesday, reaching $19.9670. The company had a trading volume of 342,259 shares, compared to its average volume of 239,387. Tsakos Energy Navigation has a twelve month low of $13.40 and a twelve month high of $26.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.11. The stock has a market capitalization of $601.61 million, a PE ratio of 4.45 and a beta of -0.09. The stock's 50 day moving average is $19.94 and its 200-day moving average is $17.97.

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

Tsakos Energy Navigation Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Tsakos Energy Navigation from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th. Jefferies Financial Group increased their price objective on Tsakos Energy Navigation from $18.00 to $21.00 and gave the company a "hold" rating in a research report on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Tsakos Energy Navigation has a consensus rating of "Buy" and a consensus price target of $30.50.

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.

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