Tsakos Energy Navigation Ltd (NYSE:TEN) Short Interest Update

Tsakos Energy Navigation Ltd (NYSE:TEN) saw a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 204,453 shares, a drop of 37.7% from the July 30th total of 328,207 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 209,472 shares, the days-to-cover ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

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

Tsakos Energy Navigation Stock Down 0.4%

TEN stock traded down $0.17 during trading on Wednesday, reaching $42.65. The stock had a trading volume of 132,057 shares, compared to its average volume of 357,852. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 6.94 and a beta of -0.26. The company’s 50 day moving average is $39.54 and its two-hundred day moving average is $38.54. Tsakos Energy Navigation has a one year low of $20.50 and a one year high of $45.85.

Tsakos Energy Navigation Dividend Announcement

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

Insider Activity

In related news, Director Clio Hatzimichalis sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $41.07, for a total transaction of $205,350.00. Following the transaction, the director 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Tsakos Energy Navigation

Several institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its stake in shares of Tsakos Energy Navigation by 312.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after buying an additional 993 shares in the last quarter. Barclays PLC purchased a new stake in Tsakos Energy Navigation in the 4th quarter worth $36,000. Smartleaf Asset Management LLC raised its stake in Tsakos Energy Navigation by 186.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock valued at $54,000 after purchasing an additional 1,585 shares during the period. Summit Securities Group LLC purchased a new stake in Tsakos Energy Navigation during the 4th quarter valued at approximately $56,000. Finally, Morse Asset Management Inc raised its position in shares of Tsakos Energy Navigation by 255.6% during the fourth quarter. Morse Asset Management Inc now owns 2,845 shares of the company’s stock valued at $64,000 after buying an additional 2,045 shares during the last quarter. Hedge funds and other institutional investors own 19.24% of the company’s stock.

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.