Tsakos Energy Navigation (NYSE:TEN) Director Sells 5,000 Shares

Key Points

• Director Clio Hatzimichalis sold 5,000 shares of Tsakos Energy Navigation at an average price of $41.07, generating $205,350 and reducing their ownership by 50%.
• TEN shares rose 1.6% to $42.12, near the company’s 12-month high of $45.85. The stock has a market capitalization of $1.27 billion and a price-to-earnings ratio of 6.86.
• The company reported quarterly earnings of $2.72 per share, beating estimates by $0.65, while revenue of $223.12 million also exceeded forecasts. Analysts maintain a consensus “Hold” rating with a $29.50 price target.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) Director Clio Hatzimichalis sold 5,000 shares of the firm'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 sale, the director owned 5,000 shares of the company's stock, valued at $205,350. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Tsakos Energy Navigation Stock Up 1.6%

Shares of TEN stock traded up $0.67 during trading on Monday, hitting $42.12. 257,611 shares of the company were exchanged, compared to its average volume of 369,192. The business's 50-day simple moving average is $38.60 and its 200 day simple moving average is $37.25. Tsakos Energy Navigation Ltd has a twelve month low of $19.85 and a twelve month high of $45.85. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 6.86 and a beta of -0.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.92 and a current ratio of 0.95.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.65. The firm had revenue of $223.12 million for the quarter, compared to analyst estimates of $208.77 million. Tsakos Energy Navigation had a net margin of 24.81% and a return on equity of 23.26%.

Tsakos Energy Navigation Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 23rd were issued a dividend of $1.00 per share. This represents a dividend yield of 507.0%. The ex-dividend date was Thursday, July 23rd. Tsakos Energy Navigation's dividend payout ratio (DPR) is currently 32.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Sagil Capital LLP raised its stake in shares of Tsakos Energy Navigation by 13.7% in the 4th quarter. Sagil Capital LLP now owns 861,366 shares of the company's stock valued at $19,312,000 after acquiring an additional 103,801 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Tsakos Energy Navigation by 602.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company's stock valued at $15,917,000 after purchasing an additional 711,313 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Tsakos Energy Navigation by 22.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company's stock worth $32,114,000 after purchasing an additional 151,195 shares during the period. Renaissance Technologies LLC increased its stake in shares of Tsakos Energy Navigation by 15.2% in the first quarter. Renaissance Technologies LLC now owns 466,225 shares of the company's stock worth $18,397,000 after purchasing an additional 61,428 shares during the period. Finally, Cooper Creek Partners Management LLC acquired a new position in shares of Tsakos Energy Navigation during the 1st quarter worth about $15,688,000. Institutional investors own 19.24% of the company's stock.

Analyst Ratings Changes

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

Tsakos Energy Navigation Company Profile

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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