Cooper Creek Partners Management LLC Purchases New Shares in Tsakos Energy Navigation Ltd $TEN

Cooper Creek Partners Management LLC acquired a new position in Tsakos Energy Navigation Ltd (NYSE:TEN) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 397,557 shares of the company’s stock, valued at approximately $15,688,000.

A number of other hedge funds have also recently modified their holdings of TEN. EverSource Wealth Advisors LLC grew its position in shares of Tsakos Energy Navigation by 312.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after buying an additional 993 shares during the period. Barclays PLC purchased a new position in Tsakos Energy Navigation during the 4th quarter valued at about $36,000. Smartleaf Asset Management LLC boosted its stake in Tsakos Energy Navigation by 186.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock worth $54,000 after acquiring an additional 1,585 shares in the last quarter. Summit Securities Group LLC bought a new stake in Tsakos Energy Navigation during the fourth quarter worth about $56,000. Finally, Raymond James Financial Inc. purchased a new stake in Tsakos Energy Navigation in the second quarter worth about $58,000. Institutional investors own 19.24% of the company’s stock.

Tsakos Energy Navigation Price Performance

TEN opened at $39.33 on Friday. The firm has a market cap of $1.18 billion, a PE ratio of 6.40 and a beta of -0.28. The stock has a 50-day moving average price of $38.86 and a 200-day moving average price of $35.66. Tsakos Energy Navigation Ltd has a 1 year low of $18.80 and a 1 year high of $45.85. 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 announced its quarterly earnings data on Thursday, May 21st. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.07 by $0.65. The company had revenue of $223.12 million for 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 Dividend Announcement

The company also recently declared a dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 23rd will be issued a dividend of $1.00 per share. The ex-dividend date is Thursday, July 23rd. This represents a dividend yield of 507.0%. Tsakos Energy Navigation’s dividend payout ratio is presently 32.57%.

Analyst Ratings Changes

TEN has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Monday, July 6th. Wall Street Zen upgraded Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $29.50.

Insider Buying and Selling at Tsakos Energy Navigation

In other Tsakos Energy Navigation news, CEO Nikolaos Tsakos bought 12,500 shares of Tsakos Energy Navigation stock in a transaction on Tuesday, April 28th. The stock was acquired at an average price of $39.92 per share, with a total value of $499,000.00. Following the acquisition, the chief executive officer owned 906,000 shares in the company, valued at approximately $36,167,520. This trade represents a 1.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.41% of the stock is owned by company insiders.

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.