Walleye Capital LLC Grows Position in Tsakos Energy Navigation Ltd $TEN

Walleye Capital LLC grew its holdings in Tsakos Energy Navigation Ltd (NYSE:TEN) by 654.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 286,314 shares of the company’s stock after purchasing an additional 248,345 shares during the quarter. Walleye Capital LLC’s holdings in Tsakos Energy Navigation were worth $11,298,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of 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 purchased a new stake in Tsakos Energy Navigation during the fourth quarter worth $36,000. Smartleaf Asset Management LLC increased its holdings in shares of Tsakos Energy Navigation by 186.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock valued at $54,000 after acquiring an additional 1,585 shares during the period. Summit Securities Group LLC bought a new position in shares of Tsakos Energy Navigation in the 4th quarter worth $56,000. Finally, Morse Asset Management Inc raised its position in shares of Tsakos Energy Navigation by 255.6% in the 4th quarter. Morse Asset Management Inc now owns 2,845 shares of the company’s stock worth $64,000 after acquiring an additional 2,045 shares in the last quarter. Hedge funds and other institutional investors own 19.24% of the company’s stock.

Insider Buying and Selling at Tsakos Energy Navigation

In other news, CEO Nikolaos Tsakos acquired 12,500 shares of Tsakos Energy Navigation stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average cost of $39.92 per share, for a total transaction of $499,000.00. Following the completion of the purchase, the chief executive officer directly owned 906,000 shares in the company, valued at $36,167,520. This trade represents a 1.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.41% of the company’s stock.

Tsakos Energy Navigation Trading Down 1.8%

NYSE:TEN opened at $39.49 on Thursday. The company has a market capitalization of $1.19 billion, a P/E ratio of 6.43 and a beta of -0.28. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. Tsakos Energy Navigation Ltd has a 12 month low of $18.80 and a 12 month high of $45.85. The firm has a fifty day simple moving average of $38.98 and a 200-day simple moving average of $35.51.

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

Tsakos Energy Navigation Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 23rd will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a dividend yield of 506.0%. Tsakos Energy Navigation’s dividend payout ratio is currently 16.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TEN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.50.

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.