Tsakos Energy Navigation (NYSE:TEN) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.45 and traded as high as $38.35. Tsakos Energy Navigation shares last traded at $37.1090, with a volume of 195,497 shares.

Analysts Set New Price Targets

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

Tsakos Energy Navigation Stock Down 0.1%

The business has a fifty day moving average of $40.12 and a 200 day moving average of $32.45. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 6.04 and a beta of -0.30. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.92.

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

Insider Activity at Tsakos Energy Navigation

In other news, CEO Nikolaos Tsakos purchased 12,500 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were bought at an average price of $39.92 per share, with a total value of $499,000.00. Following the completion of the transaction, the chief executive officer directly owned 906,000 shares in the company, valued at $36,167,520. This trade represents a 1.40% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of institutional investors have recently modified their holdings of TEN. JPMorgan Chase & Co. acquired a new stake in shares of Tsakos Energy Navigation in the second quarter worth $672,000. Hsbc Holdings PLC lifted its position in Tsakos Energy Navigation by 91.1% in the second quarter. Hsbc Holdings PLC now owns 29,880 shares of the company’s stock worth $573,000 after purchasing an additional 14,242 shares during the period. New York State Common Retirement Fund bought a new position in Tsakos Energy Navigation in the second quarter worth $761,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Tsakos Energy Navigation by 312.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after acquiring an additional 993 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Tsakos Energy Navigation during the second quarter valued at $296,000. Institutional investors own 19.24% 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.