Tsakos Energy Navigation (NYSE:TEN) Trading Down 4.3% – Should You Sell?

Tsakos Energy Navigation Ltd (NYSE:TEN)’s share price traded down 4.3% during mid-day trading on Wednesday . The company 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.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Monday, July 6th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Tsakos Energy Navigation currently has an average rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Price Performance

The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 6.86 and a beta of -0.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.92 and a current ratio of 0.95. The company has a 50 day moving average of $39.37 and a 200 day moving average of $38.22.

Tsakos Energy Navigation Dividend Announcement

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

Insider Buying and Selling at Tsakos Energy Navigation

In related news, Director Clio Hatzimichalis sold 5,000 shares of the company’s stock in a transaction that occurred 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 directly owned 5,000 shares in the company, valued at approximately $205,350. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sagil Capital LLP raised its holdings in shares of Tsakos Energy Navigation by 13.7% in the 4th quarter. Sagil Capital LLP now owns 861,366 shares of the company’s stock valued at $19,312,000 after purchasing an additional 103,801 shares in the last quarter. Walleye Capital LLC grew its stake in shares of Tsakos Energy Navigation by 654.1% during the first quarter. Walleye Capital LLC now owns 286,314 shares of the company’s stock worth $11,298,000 after purchasing an additional 248,345 shares in the last quarter. Marnell Management LLC purchased a new position in Tsakos Energy Navigation in the fourth quarter valued at $762,000. Arrowstreet Capital Limited Partnership increased its holdings in Tsakos Energy Navigation by 22.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company’s stock valued at $32,114,000 after buying an additional 151,195 shares during the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new stake in Tsakos Energy Navigation in the first quarter valued at $15,688,000. 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.