Insider Selling: Tsakos Energy Navigation (NYSE:TEN) COO Sells $266,000.00 in Stock

Tsakos Energy Navigation Ltd (NYSE:TEN) COO Georgios Saroglou sold 5,000 shares of the stock in a transaction on Monday, October 12th. The shares were sold at an average price of $53.20, for a total value of $266,000.00. Following the completion of the sale, the chief operating officer owned 37,000 shares of the company’s stock, valued at $1,968,400. The trade was a 11.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Tsakos Energy Navigation Stock Down 0.6%

Shares of TEN stock traded down $0.33 on Friday, reaching $51.15. 410,113 shares of the company’s stock traded hands, compared to its average volume of 521,314. The company has a market capitalization of $1.54 billion, a P/E ratio of 5.18 and a beta of -0.10. Tsakos Energy Navigation Ltd has a 12-month low of $21.65 and a 12-month high of $56.73. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.35 and a current ratio of 1.40. The business’s 50 day moving average price is $46.34 and its two-hundred day moving average price is $41.85.

Tsakos Energy Navigation (NYSE:TEN) last announced its quarterly earnings data on Thursday, September 10th. The company reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.21. Tsakos Energy Navigation had a return on equity of 29.44% and a net margin of 33.81%. The firm had revenue of $246.28 million during the quarter, compared to the consensus estimate of $238.87 million.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings 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 buying an additional 151,195 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Tsakos Energy Navigation by 15.2% in the 1st quarter. Renaissance Technologies LLC now owns 466,225 shares of the company’s stock valued at $18,397,000 after buying an additional 61,428 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in Tsakos Energy Navigation in the first quarter valued at $15,688,000. Walleye Capital LLC grew its position in Tsakos Energy Navigation by 654.1% in the first quarter. Walleye Capital LLC now owns 286,314 shares of the company’s stock valued at $11,298,000 after acquiring an additional 248,345 shares during the period. Finally, Main Street Financial Solutions LLC raised its stake in Tsakos Energy Navigation by 0.6% during the fourth quarter. Main Street Financial Solutions LLC now owns 396,909 shares of the company’s stock worth $8,899,000 after acquiring an additional 2,445 shares in the last quarter. Institutional investors own 19.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Friday, October 2nd. Wall Street Zen raised shares of Tsakos Energy Navigation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 19th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd. is an international marine transportation company focused primarily on the ownership and operation of crude oil and refined petroleum product tankers. Its fleet has historically included a range of vessels serving the global energy industry, including Aframax, Suezmax and other tanker classes, as well as specialized vessels such as shuttle tankers.

The company transports crude oil, petroleum products and other energy-related cargoes for major oil companies, refiners, trading firms and government-affiliated organizations.