Tsakos Energy Navigation (NYSE:TEN) Stock Passes Above 200 Day Moving Average – Time to Sell?

Tsakos Energy Navigation Ltd (NYSE:TEN)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $31.95 and traded as high as $38.14. Tsakos Energy Navigation shares last traded at $37.0240, with a volume of 242,801 shares trading hands.

Analyst Ratings Changes

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

Tsakos Energy Navigation Trading Down 0.8%

The stock’s fifty day moving average price is $40.31 and its two-hundred day moving average price is $31.95. The company has a market capitalization of $1.12 billion, a PE ratio of 6.03 and a beta of -0.30. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.87.

Tsakos Energy Navigation (NYSE:TEN) last announced its quarterly earnings results on Thursday, May 21st. The company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $208.77 million.

Insider Activity at Tsakos Energy Navigation

In related news, CEO Nikolaos Tsakos bought 12,500 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average cost of $39.92 per share, with a total value of $499,000.00. Following the transaction, the chief executive officer owned 906,000 shares in the company, valued at approximately $36,167,520. This trade represents a 1.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.41% of the company’s stock.

Institutional Trading of Tsakos Energy Navigation

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sagil Capital LLP lifted its holdings in Tsakos Energy Navigation by 13.7% in the fourth quarter. Sagil Capital LLP now owns 861,366 shares of the company’s stock worth $19,312,000 after buying an additional 103,801 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Tsakos Energy Navigation by 602.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company’s stock worth $15,917,000 after buying an additional 711,313 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Tsakos Energy Navigation by 22.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company’s stock worth $32,114,000 after buying an additional 151,195 shares during the period. Renaissance Technologies LLC lifted its holdings in Tsakos Energy Navigation by 15.2% in the first quarter. Renaissance Technologies LLC now owns 466,225 shares of the company’s stock worth $18,397,000 after buying an additional 61,428 shares during the period. Finally, Cooper Creek Partners Management LLC purchased a new stake in Tsakos Energy Navigation in the first quarter worth about $15,688,000. 19.24% of the stock is currently 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.