Moors & Cabot Inc. Sells 85,515 Shares of Tsakos Energy Navigation Ltd $TEN

Moors & Cabot Inc. cut its holdings in Tsakos Energy Navigation Ltd (NYSE:TEN) by 82.0% during the second quarter, Holdings Channel reports. The firm owned 18,770 shares of the company’s stock after selling 85,515 shares during the quarter. Moors & Cabot Inc.’s holdings in Tsakos Energy Navigation were worth $360,000 at the end of the most recent reporting period.

Separately, Counterpoint Mutual Funds LLC bought a new stake in shares of Tsakos Energy Navigation during the second quarter valued at approximately $384,000. 19.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Zacks Research lowered shares of Tsakos Energy Navigation from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Jefferies Financial Group reissued a “hold” rating and set a $22.00 price objective on shares of Tsakos Energy Navigation in a report on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Tsakos Energy Navigation presently has a consensus rating of “Hold” and a consensus price target of $31.00.

Tsakos Energy Navigation Price Performance

Tsakos Energy Navigation stock opened at $24.63 on Friday. Tsakos Energy Navigation Ltd has a 52-week low of $13.40 and a 52-week high of $24.71. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.90. The firm’s fifty day moving average is $22.65 and its 200 day moving average is $20.40. The company has a market cap of $742.11 million, a price-to-earnings ratio of 8.80 and a beta of -0.15.

Tsakos Energy Navigation (NYSE:TEN) last posted its earnings results on Wednesday, September 10th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.08. The firm had revenue of $161.39 million for the quarter, compared to the consensus estimate of $163.62 million. Tsakos Energy Navigation had a net margin of 14.17% and a return on equity of 12.03%. Sell-side analysts forecast that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current fiscal year.

Tsakos Energy Navigation Profile

Tsakos Energy Navigation Ltd. engages in the provision of seaborne crude oil and petroleum product transportation services. Its activities include the operation of crude tankers, product tankers, and liquefied natural gas carriers. The company was founded by Nikolas P. Tsakos and Michael Gordon Jolliffee in July 1993 and is headquartered in Athens, Greece.