Tsakos Energy Navigation Ltd (NYSE:TEN) Sees Large Decrease in Short Interest

Tsakos Energy Navigation Ltd (NYSE:TEN) was the recipient of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 204,453 shares, a decrease of 37.7% from the July 30th total of 328,207 shares. Based on an average daily volume of 209,472 shares, the short-interest ratio is currently 1.0 days. Currently, 0.7% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Monday, July 6th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Stock Up 0.8%

Shares of TEN traded up $0.36 during mid-day trading on Tuesday, reaching $42.76. 193,439 shares of the stock traded hands, compared to its average volume of 359,263. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 6.96 and a beta of -0.28. The stock has a fifty day simple moving average of $39.51 and a 200 day simple moving average of $38.43. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. Tsakos Energy Navigation has a 12-month low of $20.50 and a 12-month high of $45.85.

Tsakos Energy Navigation Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, July 30th. Shareholders of record on Thursday, July 23rd were given a $1.00 dividend. This represents a yield of 507.0%. The ex-dividend date of this dividend was Thursday, July 23rd. Tsakos Energy Navigation’s dividend payout ratio is presently 32.57%.

Insider Transactions at Tsakos Energy Navigation

In related news, Director Clio Hatzimichalis sold 5,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $41.07, for a total value of $205,350.00. Following the completion of the sale, the director directly owned 5,000 shares in the company, valued at approximately $205,350. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Tsakos Energy Navigation

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sagil Capital LLP boosted its holdings in Tsakos Energy Navigation by 13.7% in the fourth quarter. Sagil Capital LLP now owns 861,366 shares of the company’s stock valued at $19,312,000 after purchasing an additional 103,801 shares during the last quarter. Walleye Capital LLC raised its position in shares of Tsakos Energy Navigation by 654.1% in the 1st quarter. Walleye Capital LLC now owns 286,314 shares of the company’s stock valued at $11,298,000 after purchasing an additional 248,345 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position 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 in the last quarter. Marnell Management LLC purchased a new position in shares of Tsakos Energy Navigation during the 4th quarter valued at approximately $762,000. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of Tsakos Energy Navigation during the first quarter worth approximately $15,688,000. 19.24% of the stock is owned by hedge funds and other institutional investors.

About Tsakos Energy Navigation

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.