Tsakos Energy Navigation (NYSE:TEN) Stock Price Down 7.5% – Time to Sell?

Tsakos Energy Navigation Ltd (NYSE:TEN) shares dropped 7.5% on Monday. The stock traded as low as $50.53 and last traded at $49.82. Approximately 148,794 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 384,257 shares. The stock had previously closed at $53.85.

Analyst Upgrades and Downgrades

TEN has been the subject of several recent analyst reports. Wall Street Zen upgraded Tsakos Energy Navigation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 19th. Weiss Ratings raised Tsakos Energy Navigation from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, October 26th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Tsakos Energy Navigation Stock Down 5.0%

The stock’s fifty day moving average price is $48.96 and its 200 day moving average price is $39.93. The stock has a market cap of $1.41 billion, a P/E ratio of 4.74 and a beta of -0.03. The company has a current ratio of 1.40, a quick ratio of 1.35 and a debt-to-equity ratio of 0.91.

Tsakos Energy Navigation (NYSE:TEN) last issued its quarterly earnings results on Thursday, September 10th. The company reported $3.14 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 33.81% and a return on equity of 29.44%.

Insider Buying and Selling at Tsakos Energy Navigation

In related news, COO Georgios Saroglou sold 5,000 shares of the stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $53.20, for a total value of $266,000.00. Following the completion of the transaction, the chief operating officer directly owned 37,000 shares in the company, valued at $1,968,400. This trade represents a 11.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clio Hatzimichalis sold 5,000 shares of the business’s 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 $205,350. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,000 shares of company stock valued at $1,001,350 in the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Tsakos Energy Navigation

Large investors have recently bought and sold shares of the business. Cooper Creek Partners Management LLC purchased a new stake in Tsakos Energy Navigation during the 1st quarter valued at $15,688,000. Walleye Capital LLC increased its holdings 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 acquiring an additional 248,345 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Tsakos Energy Navigation by 22.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company’s stock valued at $32,114,000 after acquiring an additional 151,195 shares during the last quarter. Navellier & Associates Inc. increased its stake in Tsakos Energy Navigation by 297.0% during the second quarter. Navellier & Associates Inc. now owns 96,633 shares of the company’s stock worth $3,418,000 after acquiring an additional 72,293 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Tsakos Energy Navigation by 214.4% during the 1st quarter. Bank of America Corp DE now owns 92,833 shares of the company’s stock worth $3,663,000 after purchasing an additional 63,304 shares during the period. 19.24% of the stock is currently owned by institutional investors.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd. (NYSE: TEN) is an international energy transportation company engaged primarily in the ownership and operation of oceangoing tankers. Its fleet has transported crude oil, refined petroleum products, and other energy-related cargoes for major oil companies, commodity traders, and other commercial customers.

The company has operated a diversified fleet that has included crude oil tankers, product tankers, shuttle tankers, and liquefied natural gas carriers. Through its vessels and shipping services, Tsakos Energy Navigation serves global energy markets and supports the movement of petroleum and related products between major production, refining, storage, and consumption centers.

Founded in 1993, the company is part of the Tsakos maritime group, which has roots in Greece and a broader international shipping presence.