Tsakos Energy Navigation (NYSE:TEN) Shares Down 4.3% – What’s Next?

Tsakos Energy Navigation Ltd (NYSE:TEN) shares traded down 4.3% during trading on Wednesday . The stock traded as low as $40.74 and last traded at $40.4550. Approximately 25,165 shares changed hands during trading, a decline of 93% from the average daily volume of 360,579 shares. The stock had previously closed at $42.27.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.50.

Tsakos Energy Navigation Trading Down 5.1%

The business’s 50 day moving average price is $39.25 and its two-hundred day moving average price is $38.01. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 6.53 and a beta of -0.28.

Tsakos Energy Navigation Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 23rd were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a yield of 507.0%. Tsakos Energy Navigation’s dividend payout ratio is presently 32.57%.

Insiders Place Their Bets

In other Tsakos Energy Navigation news, Director Clio Hatzimichalis sold 5,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $41.07, for a total transaction of $205,350.00. Following the sale, the director owned 5,000 shares of the company’s stock, valued at approximately $205,350. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tsakos Energy Navigation

Several hedge funds have recently modified their holdings of TEN. EverSource Wealth Advisors LLC increased its holdings in 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 purchasing an additional 993 shares in the last quarter. Barclays PLC bought a new position in shares of Tsakos Energy Navigation during the fourth quarter valued at $36,000. Smartleaf Asset Management LLC raised its stake in shares of Tsakos Energy Navigation by 186.5% during the fourth 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 last quarter. Summit Securities Group LLC acquired a new position in shares of Tsakos Energy Navigation during the fourth quarter worth $56,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Tsakos Energy Navigation in the second quarter worth $58,000. Institutional investors and hedge funds own 19.24% of the company’s stock.

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.