Tsakos Energy Navigation (NYSE:TEN) Director Clio Hatzimichalis Sells 5,000 Shares of Stock

Tsakos Energy Navigation Ltd (NYSE:TEN) Director Clio Hatzimichalis sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $41.07, for a total value of $205,350.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $205,350. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Tsakos Energy Navigation Stock Up 1.6%

NYSE TEN opened at $42.12 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. Tsakos Energy Navigation Ltd has a fifty-two week low of $19.85 and a fifty-two week high of $45.85. The business has a 50 day moving average price of $38.71 and a two-hundred day moving average price of $37.36. The stock has a market cap of $1.27 billion, a PE ratio of 6.86 and a beta of -0.28.

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

Tsakos Energy Navigation Dividend Announcement

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

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Monday, July 6th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $29.50.

Hedge Funds Weigh In On Tsakos Energy Navigation

Several institutional investors and hedge funds have recently made changes to their positions in TEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $15,917,000 after buying an additional 711,313 shares during the last quarter. Cooper Creek Partners Management LLC bought a new position in Tsakos Energy Navigation during the 1st quarter valued at $15,688,000. Walleye Capital LLC grew its holdings in Tsakos Energy Navigation by 654.1% during the 1st quarter. Walleye Capital LLC now owns 286,314 shares of the company’s stock worth $11,298,000 after acquiring an additional 248,345 shares in the last quarter. Millennium Management LLC increased its position in shares of Tsakos Energy Navigation by 347.1% in the 3rd quarter. Millennium Management LLC now owns 287,149 shares of the company’s stock worth $6,380,000 after purchasing an additional 222,931 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Tsakos Energy Navigation by 22.8% in the 1st 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 last quarter. 19.24% of the stock is currently owned by hedge funds and other institutional investors.

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.