Key Points
- COO Georgios Saroglou sold 5,000 TEN shares at an average price of $53.20, totaling $266,000 and reducing his holdings by 11.9% to 37,000 shares.
- Tsakos Energy Navigation reported quarterly earnings of $3.14 per share, beating estimates of $2.93, while revenue of $246.28 million also exceeded expectations.
- The stock was trading near its 52-week high, but analysts maintained a consensus “Hold” rating with a $29.50 price target; institutional investors own 19.24% of the company.
Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) COO Georgios Saroglou sold 5,000 shares of the company's stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $53.20, for a total transaction 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 approximately $1,968,400. This trade represents a 11.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Tsakos Energy Navigation Trading Down 4.7%
Tsakos Energy Navigation stock opened at $53.76 on Thursday. The company has a 50 day moving average price of $45.85 and a 200 day moving average price of $41.69. Tsakos Energy Navigation Ltd has a 52 week low of $21.31 and a 52 week 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 firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 5.45 and a beta of -0.10.
Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last posted its quarterly earnings data on Thursday, September 10th. The company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.21. Tsakos Energy Navigation had a net margin of 33.81% and a return on equity of 29.44%. The firm had revenue of $246.28 million for the quarter, compared to analysts' expectations of $238.87 million.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in TEN. Arrowstreet Capital Limited Partnership lifted 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 worth $32,114,000 after buying an additional 151,195 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Tsakos Energy Navigation by 15.2% during the 1st quarter. Renaissance Technologies LLC now owns 466,225 shares of the company's stock valued at $18,397,000 after acquiring an additional 61,428 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new position in shares of Tsakos Energy Navigation during the 1st quarter valued at $15,688,000. Walleye Capital LLC grew its holdings in shares of Tsakos Energy Navigation by 654.1% during the 1st 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 in the last quarter. Finally, Main Street Financial Solutions LLC increased its stake in shares of Tsakos Energy Navigation by 0.6% in 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 during the last quarter. Institutional investors and hedge funds own 19.24% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on TEN shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tsakos Energy Navigation in a research report on Friday, October 2nd. Wall Street Zen upgraded Tsakos Energy Navigation from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 19th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $29.50.
Get Our Latest Analysis on Tsakos Energy Navigation
Tsakos Energy Navigation Company Profile
(
Get Free Report)
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.
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