Key Points
- Director Clio Hatzimichalis sold 5,000 Tsakos Energy Navigation shares at an average price of $41.07, generating $205,350 and reducing her ownership by 50%.
- Tsakos reported quarterly earnings of $2.72 per share, beating estimates by $0.65, while revenue of $223.12 million also exceeded expectations.
- The stock opened at $42.12 and has a consensus “Hold” rating, with an average analyst price target of $29.50; institutional investors own 19.24% of the shares.
Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) Director Clio Hatzimichalis sold 5,000 shares of the business'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 value of $205,350.00. Following the completion of the sale, the director owned 5,000 shares of the company's stock, valued at $205,350. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Tsakos Energy Navigation Stock Performance
TEN stock opened at $42.12 on Tuesday. The stock's 50 day simple moving average is $38.71 and its 200 day simple moving average is $37.36. Tsakos Energy Navigation Ltd has a 12-month low of $19.85 and a 12-month high of $45.85. The firm has a market cap of $1.27 billion, a P/E ratio of 6.86 and a beta of -0.28. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87.
Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last released its earnings results on Thursday, May 21st. The company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.65. The firm had revenue of $223.12 million during the quarter, compared to analyst estimates 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 Dividend Announcement
The firm also recently disclosed a dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 23rd were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, July 23rd. This represents a yield of 507.0%. Tsakos Energy Navigation's dividend payout ratio is 32.57%.
Institutional Investors Weigh In On Tsakos Energy Navigation
A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Tsakos Energy Navigation by 602.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company's stock valued at $15,917,000 after acquiring an additional 711,313 shares during the period. Cooper Creek Partners Management LLC acquired a new stake in shares of Tsakos Energy Navigation in the 1st quarter worth about $15,688,000. Walleye Capital LLC lifted its position in Tsakos Energy Navigation by 654.1% in the 1st quarter. Walleye Capital LLC now owns 286,314 shares of the company's stock valued at $11,298,000 after purchasing an additional 248,345 shares during the last quarter. Millennium Management LLC boosted its stake in Tsakos Energy Navigation by 347.1% during the 3rd quarter. Millennium Management LLC now owns 287,149 shares of the company's stock valued at $6,380,000 after purchasing an additional 222,931 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Tsakos Energy Navigation by 22.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company's stock valued at $32,114,000 after purchasing an additional 151,195 shares during the period. 19.24% of the stock is currently owned by institutional investors.
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 research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Tsakos Energy Navigation has a consensus rating of "Hold" and an average price target of $29.50.
View Our Latest Analysis on Tsakos Energy Navigation
About Tsakos Energy Navigation
(
Get Free Report)
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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