Tsakos Energy Navigation (NYSE:TEN) CEO Nikolaos Tsakos Purchases 12,500 Shares

Key Points

• CEO Nikolaos Tsakos purchased 12,500 shares at an average price of $39.92 on April 28, spending $499,000 and raising his stake to 906,000 shares (a 1.40% increase) valued at about $36.17 million.
• Tsakos Energy Navigation posted a strong quarter with EPS of $1.70 vs. the $0.77 consensus and revenue of $182.96 million (consensus $162.84 million), with a ROE of 17.26% and net margin of 20.15%.
• The stock is trading near $40.74 with a market cap of $1.23 billion and a PE of 9.13, while analysts hold a consensus "Hold" rating and a consensus price target of $29.50.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) CEO Nikolaos Tsakos purchased 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average price of $39.92 per share, for a total transaction of $499,000.00. Following the completion of the transaction, the chief executive officer owned 906,000 shares in the company, valued at $36,167,520. The trade was a 1.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Tsakos Energy Navigation Price Performance

NYSE TEN traded up $0.64 during trading hours on Thursday, reaching $40.74. 227,777 shares of the company's stock were exchanged, compared to its average volume of 450,496. The firm has a fifty day moving average of $37.20 and a 200-day moving average of $28.96. Tsakos Energy Navigation Ltd has a one year low of $16.44 and a one year high of $41.25. 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 stock has a market cap of $1.23 billion, a PE ratio of 9.13 and a beta of -0.30.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last posted its quarterly earnings data on Friday, March 6th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.93. Tsakos Energy Navigation had a return on equity of 17.26% and a net margin of 20.15%.The firm had revenue of $182.96 million for the quarter, compared to the consensus estimate of $162.84 million.

Analyst Ratings Changes

Several research firms have issued reports on TEN. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tsakos Energy Navigation in a report on Wednesday, April 8th. Wall Street Zen raised Tsakos Energy Navigation from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tsakos Energy Navigation has a consensus rating of "Hold" and a consensus price target of $29.50.

Institutional Trading of Tsakos Energy Navigation

A number of large investors have recently made changes to their positions in TEN. JPMorgan Chase & Co. bought a new position in Tsakos Energy Navigation during the 2nd quarter worth about $672,000. Hsbc Holdings PLC increased its holdings in Tsakos Energy Navigation by 91.1% during the 2nd quarter. Hsbc Holdings PLC now owns 29,880 shares of the company's stock worth $573,000 after purchasing an additional 14,242 shares in the last quarter. New York State Common Retirement Fund bought a new position in Tsakos Energy Navigation during the 2nd quarter worth about $761,000. EverSource Wealth Advisors LLC increased its holdings in Tsakos Energy Navigation by 312.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company's stock worth $25,000 after purchasing an additional 993 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in Tsakos Energy Navigation during the 2nd quarter worth about $296,000. Institutional investors own 19.24% of the company's stock.

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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