Gratia Capital LLC Trims Position in Tsakos Energy Navigation Ltd $TEN

Gratia Capital LLC trimmed its stake in Tsakos Energy Navigation Ltd (NYSE:TEN) by 34.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,232 shares of the company’s stock after selling 34,796 shares during the period. Tsakos Energy Navigation comprises 1.4% of Gratia Capital LLC’s holdings, making the stock its 19th biggest holding. Gratia Capital LLC’s holdings in Tsakos Energy Navigation were worth $2,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Squarepoint Ops LLC purchased a new stake in shares of Tsakos Energy Navigation in the second quarter valued at approximately $669,000. Navellier & Associates Inc. grew its position in shares of Tsakos Energy Navigation by 297.0% during the 2nd quarter. Navellier & Associates Inc. now owns 96,633 shares of the company’s stock worth $3,418,000 after buying an additional 72,293 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Tsakos Energy Navigation by 25,093.5% during the first quarter. NewEdge Advisors LLC now owns 11,589 shares of the company’s stock valued at $457,000 after buying an additional 11,543 shares during the period. Bank of America Corp DE lifted its stake in Tsakos Energy Navigation by 214.4% in the first quarter. Bank of America Corp DE now owns 92,833 shares of the company’s stock worth $3,663,000 after acquiring an additional 63,304 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Tsakos Energy Navigation by 56.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the company’s stock worth $81,000 after acquiring an additional 743 shares in the last quarter. Institutional investors own 19.24% of the company’s stock.

Tsakos Energy Navigation Price Performance

NYSE:TEN opened at $44.27 on Thursday. The firm’s fifty day moving average is $40.38 and its two-hundred day moving average is $39.16. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 7.21 and a beta of -0.26. Tsakos Energy Navigation Ltd has a one year low of $20.50 and a one year high of $45.85. 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 Dividend Announcement

The business also recently declared 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 of this dividend was Thursday, July 23rd. This represents a yield of 507.0%. Tsakos Energy Navigation’s payout ratio is presently 32.57%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Tsakos Energy Navigation

In other news, Director Clio Hatzimichalis sold 5,000 shares of Tsakos Energy Navigation 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 completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $205,350. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.41% of the stock is owned by insiders.

Tsakos Energy Navigation 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.