Marnell Management LLC Takes Position in Tsakos Energy Navigation Ltd $TEN

Marnell Management LLC purchased a new stake in Tsakos Energy Navigation Ltd (NYSE:TEN) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 33,991 shares of the company’s stock, valued at approximately $762,000.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Tsakos Energy Navigation by 312.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after purchasing an additional 993 shares during the period. Barclays PLC acquired a new position in shares of Tsakos Energy Navigation in the 4th quarter valued at $36,000. Smartleaf Asset Management LLC lifted its stake in shares of Tsakos Energy Navigation by 186.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock valued at $54,000 after purchasing an additional 1,585 shares during the period. Morse Asset Management Inc lifted its stake in shares of Tsakos Energy Navigation by 255.6% in the 4th quarter. Morse Asset Management Inc now owns 2,845 shares of the company’s stock valued at $64,000 after purchasing an additional 2,045 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Tsakos Energy Navigation in the 2nd quarter valued at $58,000. Institutional investors and hedge funds own 19.24% of the company’s stock.

Tsakos Energy Navigation Stock Performance

TEN opened at $38.69 on Monday. The business’s 50-day moving average price is $40.11 and its two-hundred day moving average price is $32.55. Tsakos Energy Navigation Ltd has a 1 year low of $18.63 and a 1 year high of $45.85. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 6.30 and a beta of -0.30. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.92.

Tsakos Energy Navigation (NYSE:TEN) last released its quarterly earnings results on Thursday, May 21st. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.65. Tsakos Energy Navigation had a return on equity of 23.26% and a net margin of 24.81%.The firm had revenue of $223.12 million for the quarter, compared to the consensus estimate of $208.77 million.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Wednesday, April 8th. Wall Street Zen raised Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.50.

Insider Activity

In other news, CEO Nikolaos Tsakos purchased 12,500 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were purchased at an average price of $39.92 per share, with a total value of $499,000.00. Following the purchase, the chief executive officer directly owned 906,000 shares of the company’s stock, valued at $36,167,520. This trade represents a 1.40% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.41% of the stock is owned by corporate 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.