Insider Selling: Tsakos Energy Navigation (NYSE:TEN) Director Sells $205,350.00 in Stock

Tsakos Energy Navigation Ltd (NYSE:TEN) Director Clio Hatzimichalis sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were 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 of the company’s stock, valued at $205,350. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Tsakos Energy Navigation Stock Performance

TEN stock traded up $0.67 on Monday, reaching $42.12. 257,611 shares of the company were exchanged, compared to its average volume of 369,192. The firm has a market capitalization of $1.27 billion, a PE ratio of 6.86 and a beta of -0.28. Tsakos Energy Navigation Ltd has a 12 month low of $19.85 and a 12 month high of $45.85. The stock’s fifty day moving average price is $38.60 and its 200 day moving average price is $37.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.92.

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

Tsakos Energy Navigation Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in Tsakos Energy Navigation by 312.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after purchasing an additional 993 shares in the last quarter. Barclays PLC acquired a new position in shares of Tsakos Energy Navigation in the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC lifted its position in shares of Tsakos Energy Navigation by 186.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock worth $54,000 after buying an additional 1,585 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Tsakos Energy Navigation in the 4th quarter valued at $56,000. Finally, Raymond James Financial Inc. acquired a new position in Tsakos Energy Navigation in the second quarter valued at about $58,000. Institutional investors own 19.24% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated 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 three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.50.

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.