Tsakos Energy Navigation Ltd (NYSE:TEN) Short Interest Down 37.7% in August

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Clio Hatzimichalis sold 5,000 shares of Tsakos Energy Navigation stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $41.07, for a total transaction of $205,350.00. Following the sale, the director owned 5,000 shares of the company’s stock, valued at approximately $205,350. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tsakos Energy Navigation

A number of large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Tsakos Energy Navigation by 602.2% during the second 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 during the last quarter. Cooper Creek Partners Management LLC acquired a new position in shares of Tsakos Energy Navigation during the 1st quarter worth approximately $15,688,000. Walleye Capital LLC lifted its stake in 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 buying an additional 248,345 shares in the last quarter. Millennium Management LLC grew its holdings in Tsakos Energy Navigation by 347.1% during the 3rd quarter. Millennium Management LLC now owns 287,149 shares of the company’s stock valued at $6,380,000 after buying an additional 222,931 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Tsakos Energy Navigation by 22.8% during the first 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. 19.24% of the stock is owned by institutional investors and hedge funds.

Tsakos Energy Navigation Stock Performance

Shares of TEN stock opened at $42.52 on Monday. Tsakos Energy Navigation has a 1-year low of $20.50 and a 1-year high of $45.85. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.92. The business’s fifty day moving average price is $39.46 and its 200 day moving average price is $38.33. The firm has a market capitalization of $1.28 billion, a PE ratio of 6.93 and a beta of -0.28.

Tsakos Energy Navigation Dividend Announcement

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

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.