Tsakos Energy Navigation (NYSE:TEN) Shares Down 4.4% - Time to Sell?

Key Points

• Tsakos Energy Navigation shares fell 4.4% on Thursday, trading as low as $37.84 with volume far below normal, signaling weaker-than-usual investor activity. The stock recently closed at $39.19.
• The company posted better-than-expected quarterly results, with EPS of $2.72 versus estimates of $2.07 and revenue of $223.12 million versus expectations of $208.77 million. It also reported strong margins and return on equity.
• Tsakos Energy Navigation announced a $1.00 per share dividend, payable July 30, and CEO Nikolaos Tsakos recently bought 12,500 shares, showing insider confidence. Analysts currently rate the stock a consensus Hold with an average price target of $29.50.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report)'s stock price traded down 4.4% during mid-day trading on Thursday . The company traded as low as $37.84 and last traded at $37.4740. 26,097 shares changed hands during trading, a decline of 93% from the average daily volume of 400,887 shares. The stock had previously closed at $39.19.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Tsakos Energy Navigation from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tsakos Energy Navigation in a report on Monday. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Tsakos Energy Navigation has an average rating of "Hold" and an average price target of $29.50.

Tsakos Energy Navigation Stock Down 5.0%

The firm's fifty day simple moving average is $39.66 and its 200 day simple moving average is $34.33. 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 company has a market cap of $1.12 billion, a price-to-earnings ratio of 6.07 and a beta of -0.28.

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 (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.65. The business had revenue of $223.12 million during the quarter, compared to analysts' expectations 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 Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 23rd will be issued a dividend of $1.00 per share. This represents a yield of 515.0%. The ex-dividend date of this dividend is Thursday, July 23rd. Tsakos Energy Navigation's payout ratio is 26.06%.

Insider Activity at Tsakos Energy Navigation

In other Tsakos Energy Navigation news, CEO Nikolaos Tsakos bought 12,500 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average price of $39.92 per share, with a total value of $499,000.00. Following the transaction, the chief executive officer owned 906,000 shares of the company's stock, valued at approximately $36,167,520. The trade was a 1.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.41% of the company's stock.

Hedge Funds Weigh In On Tsakos Energy Navigation

Several hedge funds have recently added to or reduced their stakes in TEN. JPMorgan Chase & Co. purchased a new stake in shares of Tsakos Energy Navigation during the 2nd quarter worth approximately $672,000. Hsbc Holdings PLC raised its stake 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 acquiring an additional 14,242 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in Tsakos Energy Navigation during the 2nd quarter worth $761,000. EverSource Wealth Advisors LLC lifted its position in Tsakos Energy Navigation by 312.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company's stock valued at $25,000 after acquiring an additional 993 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in Tsakos Energy Navigation in the second quarter valued at $296,000. 19.24% of the stock is currently owned by hedge funds and other institutional investors.

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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