Tsakos Energy Navigation (NYSE:TEN) Stock: Insider Georgios Saroglou Sells 5,000 Shares

Tsakos Energy Navigation Ltd (NYSE:TEN) COO Georgios Saroglou sold 5,000 shares of Tsakos Energy Navigation stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $53.20, for a total value of $266,000.00. Following the transaction, the chief operating officer owned 37,000 shares in the company, valued at approximately $1,968,400. This represents a 11.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Tsakos Energy Navigation Stock Down 4.2%

NYSE:TEN opened at $51.45 on Friday. Tsakos Energy Navigation Ltd has a 1 year low of $21.65 and a 1 year high of $56.73. The company has a current ratio of 1.40, a quick ratio of 1.35 and a debt-to-equity ratio of 0.91. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 5.21 and a beta of -0.10. The stock has a 50-day moving average price of $46.10 and a two-hundred day moving average price of $41.78.

Tsakos Energy Navigation (NYSE:TEN) last announced its quarterly earnings results 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. The company had revenue of $246.28 million during 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%.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEN. Arrowstreet Capital Limited Partnership raised its stake 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 valued at $32,114,000 after purchasing an additional 151,195 shares during the period. Renaissance Technologies LLC boosted its position in shares of Tsakos Energy Navigation by 15.2% during the first quarter. Renaissance Technologies LLC now owns 466,225 shares of the company’s stock worth $18,397,000 after buying an additional 61,428 shares during the period. Cooper Creek Partners Management LLC bought a new position in shares of Tsakos Energy Navigation during the first quarter worth about $15,688,000. Walleye Capital LLC grew its holdings in shares of Tsakos Energy Navigation by 654.1% during the first 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. Finally, Main Street Financial Solutions LLC raised its position in Tsakos Energy Navigation by 0.6% in the 4th quarter. Main Street Financial Solutions LLC now owns 396,909 shares of the company’s stock valued at $8,899,000 after buying an additional 2,445 shares during the last quarter. 19.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on TEN shares. Wall Street Zen raised Tsakos Energy Navigation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus 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.