Tsakos Energy Navigation (NYSE:TEN) Shares Cross Above 200-Day Moving Average – Here’s Why

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $33.27 and traded as high as $41.36. Tsakos Energy Navigation shares last traded at $41.33, with a volume of 619,336 shares trading hands.

Analysts Set New Price Targets

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

Tsakos Energy Navigation Trading Up 4.1%

The company’s 50-day moving average price is $40.03 and its 200-day moving average price is $33.27. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 6.73 and a beta of -0.30.

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

Tsakos Energy Navigation Announces Dividend

The firm also recently announced a dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 23rd will be paid a dividend of $1.00 per share. This represents a yield of 515.0%. The ex-dividend date of this dividend is Thursday, July 23rd. Tsakos Energy Navigation’s payout ratio is 26.06%.

Insider Activity

In other Tsakos Energy Navigation news, CEO Nikolaos Tsakos bought 12,500 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average price of $39.92 per share, with a total value of $499,000.00. Following the completion of the acquisition, the chief executive officer directly owned 906,000 shares of the company’s stock, valued at $36,167,520. This represents a 1.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Tsakos Energy Navigation

Hedge funds and other institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL lifted its stake in Tsakos Energy Navigation by 51.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 77,110 shares of the company’s stock worth $1,713,000 after purchasing an additional 26,097 shares in the last quarter. Sagil Capital LLP grew its position in shares of Tsakos Energy Navigation by 13.7% in 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 stake in shares of Tsakos Energy Navigation in the fourth quarter valued at approximately $762,000. GSA Capital Partners LLP acquired a new stake in shares of Tsakos Energy Navigation in the fourth quarter valued at approximately $902,000. Finally, FourThought Financial Partners LLC purchased a new position in Tsakos Energy Navigation during the third quarter worth approximately $328,000. 19.24% of the stock is owned by hedge funds and other institutional investors.

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.