Tsakos Energy Navigation Ltd $TEN Shares Sold by Foundation Resource Management Inc.

Foundation Resource Management Inc. lessened its holdings in Tsakos Energy Navigation Ltd (NYSE:TEN) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 316,012 shares of the company’s stock after selling 20,429 shares during the period. Tsakos Energy Navigation comprises approximately 1.2% of Foundation Resource Management Inc.’s holdings, making the stock its 25th biggest position. Foundation Resource Management Inc.’s holdings in Tsakos Energy Navigation were worth $14,932,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in Tsakos Energy Navigation by 214.4% during the first quarter. Bank of America Corp DE now owns 92,833 shares of the company’s stock valued at $3,663,000 after buying an additional 63,304 shares during the last quarter. Navellier & Associates Inc. raised its position in Tsakos Energy Navigation by 297.0% in 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 period. Arrowstreet Capital Limited Partnership boosted its stake 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 worth $32,114,000 after acquiring an additional 151,195 shares during the last quarter. Walleye Capital LLC boosted its stake in shares of Tsakos Energy Navigation by 654.1% during the 1st quarter. Walleye Capital LLC now owns 286,314 shares of the company’s stock worth $11,298,000 after acquiring an additional 248,345 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Tsakos Energy Navigation during the 2nd quarter worth $669,000. Institutional investors own 19.24% of the company’s stock.

Insider Buying and Selling at Tsakos Energy Navigation

In other news, CFO Theoharrys Kosmatos sold 10,000 shares of the stock in a transaction on Friday, September 18th. The shares were sold at an average price of $53.00, for a total value of $530,000.00. Following the completion of the sale, the chief financial officer directly owned 14,700 shares of the company’s stock, valued at $779,100. This represents a 40.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Georgios Saroglou sold 5,000 shares of the firm’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $53.20, for a total transaction of $266,000.00. Following the sale, the chief operating officer owned 37,000 shares in the company, valued at $1,968,400. The trade was a 11.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,000 shares of company stock valued at $1,001,350 over the last 90 days. 1.41% of the stock is currently owned by corporate insiders.

Tsakos Energy Navigation Stock Performance

Shares of NYSE TEN traded down $1.08 during trading on Monday, hitting $50.09. The company had a trading volume of 427,341 shares, compared to its average volume of 386,539. Tsakos Energy Navigation Ltd has a 12 month low of $21.65 and a 12 month high of $56.73. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.35 and a current ratio of 1.40. The firm has a market capitalization of $1.51 billion, a P/E ratio of 5.08 and a beta of -0.10. The stock has a 50 day simple moving average of $46.34 and a 200 day simple moving average of $41.87.

Tsakos Energy Navigation (NYSE:TEN) last released its earnings results on Thursday, September 10th. The company reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.21. Tsakos Energy Navigation had a net margin of 33.81% and a return on equity of 29.44%. The company had revenue of $246.28 million during the quarter, compared to analyst estimates of $238.87 million.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TEN shares. Wall Street Zen raised shares of Tsakos Energy Navigation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Friday, October 2nd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $29.50.

Tsakos Energy Navigation Profile

Tsakos Energy Navigation Ltd. is an international marine transportation company focused primarily on the ownership and operation of crude oil and refined petroleum product tankers. Its fleet has historically included a range of vessels serving the global energy industry, including Aframax, Suezmax and other tanker classes, as well as specialized vessels such as shuttle tankers.

The company transports crude oil, petroleum products and other energy-related cargoes for major oil companies, refiners, trading firms and government-affiliated organizations.