Tsakos Energy Navigation (NYSE:TEN) Stock Price Down 4.4% – What’s Next?

Tsakos Energy Navigation Ltd (NYSE:TEN) shares dropped 4.4% on Thursday . The company traded as low as $37.84 and last traded at $37.4740. 26,097 shares were traded during trading, a decline of 93% from the average daily volume of 400,887 shares. The stock had previously closed at $39.19.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Monday. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. 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 Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. The business’s 50-day simple moving average is $39.61 and its two-hundred day simple moving average is $34.48. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 6.46 and a beta of -0.28.

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

Tsakos Energy Navigation Dividend Announcement

The company also recently declared a dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 23rd will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a yield of 515.0%. Tsakos Energy Navigation’s dividend payout ratio is 26.06%.

Insider Buying and Selling at Tsakos Energy Navigation

In other Tsakos Energy Navigation news, CEO Nikolaos Tsakos acquired 12,500 shares of the stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average cost of $39.92 per share, with a total value of $499,000.00. Following the transaction, the chief executive officer owned 906,000 shares in the company, valued at approximately $36,167,520. The trade was a 1.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Tsakos Energy Navigation

A number of hedge funds have recently added to or reduced their stakes in TEN. Tudor Investment Corp ET AL raised its holdings in shares of Tsakos Energy Navigation by 51.2% during the third quarter. Tudor Investment Corp ET AL now owns 77,110 shares of the company’s stock valued at $1,713,000 after purchasing an additional 26,097 shares during the period. Sagil Capital LLP boosted its position in shares of Tsakos Energy Navigation by 13.7% during 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 in the last quarter. Marnell Management LLC acquired a new stake in shares of Tsakos Energy Navigation in the 4th quarter valued at about $762,000. GSA Capital Partners LLP bought a new stake in Tsakos Energy Navigation in the 4th quarter valued at about $902,000. Finally, Savant Capital LLC increased its position in Tsakos Energy Navigation by 6.6% in the 4th quarter. Savant Capital LLC now owns 13,356 shares of the company’s stock valued at $299,000 after buying an additional 825 shares in the last quarter. 19.24% of the stock is currently owned by 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.