Tsakos Energy Navigation (NYSE:TEN) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Tsakos Energy Navigation Ltd (NYSE:TEN) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $33.79 and traded as high as $35.81. Tsakos Energy Navigation shares last traded at $35.3190, with a volume of 245,566 shares trading hands.

Analyst Ratings Changes

TEN has been the subject of a number of research analyst reports. Weiss Ratings reissued 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 equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Price Performance

The business’s 50-day simple moving average is $39.74 and its two-hundred day simple moving average is $33.79. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 5.75 and a beta of -0.28. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.65. Tsakos Energy Navigation had a net margin of 24.81% and a return on equity of 23.26%. The company had revenue of $223.12 million during the quarter, compared to the consensus estimate of $208.77 million.

Tsakos Energy Navigation Dividend Announcement

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

Insider Transactions at Tsakos Energy Navigation

In other news, CEO Nikolaos Tsakos bought 12,500 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was purchased at an average cost of $39.92 per share, for a total transaction of $499,000.00. Following the completion of the transaction, the chief executive officer owned 906,000 shares of the company’s stock, valued at $36,167,520. This trade represents a 1.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TEN. EverSource Wealth Advisors LLC boosted its position in Tsakos Energy Navigation by 312.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after buying an additional 993 shares during the period. Barclays PLC acquired a new position in Tsakos Energy Navigation in the 4th quarter valued at approximately $36,000. Smartleaf Asset Management LLC increased its position in 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 acquiring an additional 1,585 shares during the period. Summit Securities Group LLC bought a new position in shares of Tsakos Energy Navigation during the fourth quarter valued at $56,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Tsakos Energy Navigation during the second quarter worth $58,000. 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.