Tsakos Energy Navigation (NYSE:TEN) COO Georgios Saroglou Sells 5,000 Shares of Stock

Tsakos Energy Navigation Ltd (NYSE:TEN) COO Georgios Saroglou sold 5,000 shares of the business’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $53.20, for a total transaction of $266,000.00. Following the completion of the sale, the chief operating officer owned 37,000 shares in the company, valued at approximately $1,968,400. This trade represents a 11.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Tsakos Energy Navigation Price Performance

Shares of NYSE TEN opened at $53.76 on Thursday. Tsakos Energy Navigation Ltd has a twelve month low of $21.31 and a twelve month high of $56.73. The company has a current ratio of 1.40, a quick ratio of 1.35 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 5.45 and a beta of -0.10. The firm has a 50-day moving average of $45.85 and a two-hundred day moving average of $41.69.

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

Hedge Funds Weigh In On Tsakos Energy Navigation

Hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. purchased a new position in Tsakos Energy Navigation in the 2nd quarter worth about $346,000. State Street Corp raised its holdings in Tsakos Energy Navigation by 2.4% during the 2nd quarter. State Street Corp now owns 65,687 shares of the company’s stock worth $2,323,000 after buying an additional 1,522 shares during the period. Squarepoint Ops LLC purchased a new stake in Tsakos Energy Navigation during the second quarter valued at about $669,000. Navellier & Associates Inc. lifted its stake in Tsakos Energy Navigation by 297.0% during the second quarter. Navellier & Associates Inc. now owns 96,633 shares of the company’s stock valued at $3,418,000 after buying an additional 72,293 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Tsakos Energy Navigation by 25,093.5% during the first quarter. NewEdge Advisors LLC now owns 11,589 shares of the company’s stock valued at $457,000 after buying an additional 11,543 shares in the last quarter. 19.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Tsakos Energy Navigation Company 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.