Tsakos Energy Navigation (NYSE:TEN) Releases Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Tsakos Energy Navigation (NYSE:TEN) posted its earnings results on Thursday. The company reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.21, Zacks reports. Tsakos Energy Navigation had a net margin of 24.81% and a return on equity of 23.26%.

Tsakos Energy Navigation Price Performance

Shares of NYSE:TEN traded up $1.13 during midday trading on Thursday, reaching $45.45. 222,428 shares of the company’s stock traded hands, compared to its average volume of 356,858. 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 fifty day simple moving average of $40.38 and a two-hundred day simple moving average of $39.16. The company has a market cap of $1.37 billion, a P/E ratio of 7.42 and a beta of -0.26. Tsakos Energy Navigation has a 1 year low of $20.50 and a 1 year high of $46.65.

Tsakos Energy Navigation Dividend Announcement

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

Insider Buying and Selling

In other news, Director Clio Hatzimichalis sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $41.07, for a total value of $205,350.00. Following the transaction, the director owned 5,000 shares in the company, valued at $205,350. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Tsakos Energy Navigation

Institutional investors and hedge funds have recently bought and sold shares of the business. Nipun Capital L.P. acquired a new stake in shares of Tsakos Energy Navigation during the 4th quarter worth approximately $235,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Tsakos Energy Navigation in the 4th quarter worth approximately $218,000. Public Employees Retirement System of Ohio boosted its position in shares of Tsakos Energy Navigation by 694.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 10,076 shares of the company’s stock worth $224,000 after purchasing an additional 8,808 shares during the period. Moors & Cabot Inc. increased its holdings in Tsakos Energy Navigation by 12.0% in the 3rd quarter. Moors & Cabot Inc. now owns 21,020 shares of the company’s stock valued at $467,000 after purchasing an additional 2,250 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Tsakos Energy Navigation during the third quarter worth $461,000. 19.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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 assigned a Hold rating to the company. According to data from MarketBeat.com, Tsakos Energy Navigation currently has a consensus rating of “Hold” and a consensus target price of $29.50.

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.