Insider Selling: Tsakos Energy Navigation (NYSE:TEN) CFO Sells 10,000 Shares

Tsakos Energy Navigation Ltd (NYSE:TEN) CFO Theoharrys Evgenios Kosmatos sold 10,000 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $53.00, for a total transaction of $530,000.00. Following the completion of the transaction, the chief financial officer directly owned 14,700 shares in the company, valued at approximately $779,100. This represents a 40.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Tsakos Energy Navigation Stock Down 5.2%

Tsakos Energy Navigation stock traded down $2.66 during midday trading on Tuesday, hitting $48.26. 747,279 shares of the stock were exchanged, compared to its average volume of 376,997. Tsakos Energy Navigation Ltd has a 1 year low of $20.50 and a 1 year high of $53.84. The firm has a market cap of $1.45 billion, a P/E ratio of 4.89 and a beta of -0.26. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.40 and a quick ratio of 1.35. The company has a 50 day moving average price of $42.26 and a two-hundred day moving average price of $40.07.

Tsakos Energy Navigation (NYSE:TEN) last released its quarterly earnings results on Thursday, September 10th. The company reported $3.14 EPS for the quarter, topping the consensus estimate of $2.93 by $0.21. The business had revenue of $246.28 million for the quarter, compared to analysts’ expectations of $238.87 million. Tsakos Energy Navigation had a return on equity of 29.44% and a net margin of 33.81%.

Analysts Set New Price Targets

Several research firms recently weighed in on TEN. Wall Street Zen upgraded shares of Tsakos Energy Navigation from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Monday, July 6th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $29.50.

Institutional Trading of Tsakos Energy Navigation

Hedge funds have recently modified their holdings of the business. Cooper Creek Partners Management LLC bought a new position in Tsakos Energy Navigation during the first quarter valued at approximately $15,688,000. Walleye Capital LLC increased its position in 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 during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Tsakos Energy Navigation by 22.8% in 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 during the last quarter. Sagil Capital LLP lifted its holdings in Tsakos Energy Navigation by 13.7% in the 4th quarter. Sagil Capital LLP now owns 861,366 shares of the company’s stock worth $19,312,000 after purchasing an additional 103,801 shares during the last quarter. Finally, Navellier & Associates Inc. grew its holdings in Tsakos Energy Navigation by 297.0% during the second quarter. Navellier & Associates Inc. now owns 96,633 shares of the company’s stock valued at $3,418,000 after purchasing an additional 72,293 shares during the last quarter. Hedge funds and other institutional investors own 19.24% of the company’s stock.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd. is a Greek-based international tanker company that owns and operates vessels serving the global energy transportation industry. Its fleet has historically included crude oil tankers, product tankers, shuttle tankers and liquefied natural gas carriers, enabling the company to transport crude oil, refined petroleum products and other energy commodities.

Founded in 1993, Tsakos Energy Navigation developed a diversified fleet serving oil companies, refiners, commodity traders and other charterers.