Marnell Management LLC Takes $762,000 Position in Tsakos Energy Navigation Ltd $TEN

Marnell Management LLC acquired a new stake in Tsakos Energy Navigation Ltd (NYSE:TEN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 33,991 shares of the company’s stock, valued at approximately $762,000. Marnell Management LLC owned 0.11% of Tsakos Energy Navigation at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of Tsakos Energy Navigation by 312.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after purchasing an additional 993 shares during the period. Barclays PLC bought a new stake in shares of Tsakos Energy Navigation in the 4th quarter valued at approximately $36,000. Smartleaf Asset Management LLC grew its stake in shares of Tsakos Energy Navigation by 186.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock valued at $54,000 after purchasing an additional 1,585 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Tsakos Energy Navigation in the 2nd quarter valued at approximately $58,000. Finally, Morse Asset Management Inc grew its stake in shares of Tsakos Energy Navigation by 255.6% in the 4th quarter. Morse Asset Management Inc now owns 2,845 shares of the company’s stock valued at $64,000 after purchasing an additional 2,045 shares during the period. 19.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TEN shares. Wall Street Zen upgraded Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.50.

Tsakos Energy Navigation Stock Down 0.2%

Shares of TEN opened at $38.69 on Monday. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 6.30 and a beta of -0.30. 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 business’s fifty day moving average price is $40.11 and its two-hundred day moving average price is $32.55. Tsakos Energy Navigation Ltd has a 52 week low of $18.63 and a 52 week high of $45.85.

Tsakos Energy Navigation (NYSE:TEN) last announced its quarterly earnings data on Thursday, May 21st. The company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.65. The firm had revenue of $223.12 million for the quarter, compared to analyst estimates of $208.77 million. Tsakos Energy Navigation had a return on equity of 23.26% and a net margin of 24.81%.

Insider Buying and Selling

In other news, CEO Nikolaos Tsakos acquired 12,500 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were purchased at an average cost of $39.92 per share, for a total transaction of $499,000.00. Following the transaction, the chief executive officer owned 906,000 shares of the company’s stock, valued at approximately $36,167,520. This represents a 1.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.41% of the company’s stock.

Tsakos Energy Navigation Company Profile

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.