Key Points
- CFO Theoharrys Evgenios Kosmatos sold 10,000 Tsakos Energy Navigation shares at an average price of $53, generating $530,000. The sale reduced his stake by 40.49%, leaving him with 14,700 shares.
- Tsakos Energy Navigation reported quarterly EPS of $3.14, exceeding the $2.93 analyst consensus, while revenue of $246.28 million also topped estimates.
- The stock was trading at $48.26, down 5.2%, while institutional investors owned 19.24% of shares. Analysts maintained an overall “Hold” rating with an average price target of $29.50.
Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) CFO Theoharrys Evgenios Kosmatos sold 10,000 shares of the stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $53.00, for a total transaction of $530,000.00. Following the completion of the sale, the chief financial officer owned 14,700 shares of the company's stock, valued at approximately $779,100. The trade was a 40.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Tsakos Energy Navigation Trading Down 5.2%
Shares of Tsakos Energy Navigation stock opened at $48.26 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.40 and a quick ratio of 1.35. The stock's 50 day simple moving average is $42.43 and its 200-day simple moving average is $40.16. The stock has a market cap of $1.45 billion, a P/E ratio of 4.89 and a beta of -0.26. Tsakos Energy Navigation Ltd has a 1-year low of $20.50 and a 1-year high of $53.84.
Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last announced its quarterly earnings data on Thursday, September 10th. The company reported $3.14 EPS for the quarter, topping analysts' consensus estimates of $2.93 by $0.21. The firm had revenue of $246.28 million for the quarter, compared to the consensus estimate of $238.87 million. Tsakos Energy Navigation had a return on equity of 29.44% and a net margin of 33.81%.
Institutional Trading of Tsakos Energy Navigation
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cooper Creek Partners Management LLC acquired a new position in shares of Tsakos Energy Navigation in the first quarter valued at approximately $15,688,000. Walleye Capital LLC lifted 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 buying an additional 248,345 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Tsakos Energy Navigation by 22.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company's stock valued at $32,114,000 after buying an additional 151,195 shares during the period. Sagil Capital LLP grew its stake in shares of Tsakos Energy Navigation by 13.7% in the fourth quarter. Sagil Capital LLP now owns 861,366 shares of the company's stock worth $19,312,000 after acquiring an additional 103,801 shares in the last quarter. Finally, Navellier & Associates Inc. grew its stake in shares of Tsakos Energy Navigation by 297.0% in the second quarter. Navellier & Associates Inc. now owns 96,633 shares of the company's stock worth $3,418,000 after acquiring an additional 72,293 shares in the last quarter. 19.24% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently weighed in on TEN shares. Weiss Ratings reissued a "hold (c)" rating on shares of Tsakos Energy Navigation in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Tsakos Energy Navigation from a "buy" rating to a "strong-buy" rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Tsakos Energy Navigation presently has an average rating of "Hold" and an average price target of $29.50.
Read Our Latest Research Report on TEN
About Tsakos Energy Navigation
(
Get Free Report)
Tsakos Energy Navigation Ltd. is a Greek-based international tanker company that owns and operates vessels serving the global energy transportation industry. Its fleet has historically included crude oil tankers, product tankers, shuttle tankers and liquefied natural gas carriers, enabling the company to transport crude oil, refined petroleum products and other energy commodities.
Founded in 1993, Tsakos Energy Navigation developed a diversified fleet serving oil companies, refiners, commodity traders and other charterers.
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