Tsakos Energy Navigation (NYSE:TEN) Trading Down 4.4% – Should You Sell?

Tsakos Energy Navigation Ltd (NYSE:TEN) traded down 4.4% on Thursday . The company traded as low as $37.84 and last traded at $37.4740. Approximately 26,097 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 400,887 shares. The stock had previously closed at $39.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TEN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Monday. 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Trading Down 5.0%

The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. The company’s fifty day moving average price is $39.66 and its two-hundred day moving average price is $34.33. The firm has a market cap of $1.12 billion, a PE ratio of 6.07 and a beta of -0.28.

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

Tsakos Energy Navigation Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 23rd will be paid a $1.00 dividend. The ex-dividend date is Thursday, July 23rd. This represents a dividend yield of 515.0%. Tsakos Energy Navigation’s payout ratio is 26.06%.

Insiders Place Their Bets

In other Tsakos Energy Navigation news, CEO Nikolaos Tsakos acquired 12,500 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was purchased at an average price of $39.92 per share, for a total transaction of $499,000.00. Following the completion of the transaction, the chief executive officer owned 906,000 shares of the company’s stock, valued at $36,167,520. The trade was a 1.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of large investors have recently made changes to their positions in TEN. Sagil Capital LLP boosted its holdings in Tsakos Energy Navigation by 13.7% during the fourth quarter. Sagil Capital LLP now owns 861,366 shares of the company’s stock worth $19,312,000 after buying an additional 103,801 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Tsakos Energy Navigation by 602.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company’s stock worth $15,917,000 after acquiring an additional 711,313 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings 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 worth $32,114,000 after acquiring an additional 151,195 shares during the period. Renaissance Technologies LLC increased its stake in Tsakos Energy Navigation by 15.2% in the 1st quarter. Renaissance Technologies LLC now owns 466,225 shares of the company’s stock valued at $18,397,000 after purchasing an additional 61,428 shares in the last quarter. Finally, Cooper Creek Partners Management LLC purchased a new stake in Tsakos Energy Navigation during the first quarter worth $15,688,000. Hedge funds and other institutional investors own 19.24% of the company’s stock.

Tsakos Energy Navigation Company 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.