Tsakos Energy Navigation (NYSE:TEN) Reaches New 1-Year High – Here’s Why

Tsakos Energy Navigation Ltd (NYSE:TENGet Free Report)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $46.65 and last traded at $45.4420, with a volume of 99148 shares trading hands. The stock had previously closed at $44.32.

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on Tsakos Energy Navigation

Tsakos Energy Navigation Stock Up 3.0%

The company has a 50 day moving average of $40.38 and a 200-day moving average of $39.16. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.92. The company has a market cap of $1.37 billion, a P/E ratio of 7.41 and a beta of -0.26.

Tsakos Energy Navigation Dividend Announcement

The firm also recently declared 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. This represents a dividend yield of 507.0%. The ex-dividend date was Thursday, July 23rd. Tsakos Energy Navigation’s dividend payout ratio (DPR) is 32.57%.

Insider Activity 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 value of $205,350.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of hedge funds and other institutional investors have recently bought and sold shares of TEN. Sagil Capital LLP raised its position in Tsakos Energy Navigation by 13.7% during the fourth 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. Marnell Management LLC purchased a new position in shares of Tsakos Energy Navigation in the 4th quarter worth about $762,000. Arrowstreet Capital Limited Partnership increased its position 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 valued at $32,114,000 after purchasing an additional 151,195 shares during the last quarter. Walleye Capital LLC raised its holdings 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 valued at $11,298,000 after buying an additional 248,345 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Tsakos Energy Navigation by 214.4% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 19.24% of the company’s stock.

About Tsakos Energy Navigation

(Get Free Report)

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.

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