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

Tsakos Energy Navigation Ltd (NYSE:TEN)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $35.51 and traded as high as $40.57. Tsakos Energy Navigation shares last traded at $39.4870, with a volume of 314,180 shares trading hands.

Analyst Ratings Changes

A number of research firms recently commented on TEN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Monday, July 6th. Wall Street Zen raised shares of Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a 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 company. According to data from MarketBeat.com, Tsakos Energy Navigation has an average rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Trading Down 1.8%

The firm’s fifty day simple moving average is $38.98 and its 200 day simple moving average is $35.51. The stock has a market capitalization of $1.19 billion, a P/E ratio of 6.43 and a beta of -0.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.92 and a current ratio of 0.95.

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

Tsakos Energy Navigation Dividend Announcement

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. The ex-dividend date is Thursday, July 23rd. This represents a yield of 506.0%. Tsakos Energy Navigation’s dividend payout ratio is presently 16.29%.

Insider Activity

In other Tsakos Energy Navigation news, CEO Nikolaos Tsakos purchased 12,500 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were bought at an average price of $39.92 per share, for a total transaction of $499,000.00. Following the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.41% of the company’s stock.

Institutional Trading of Tsakos Energy Navigation

Several large investors have recently bought and sold shares of the business. Sagil Capital LLP grew its position in 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 acquiring an additional 103,801 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 acquiring an additional 711,313 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Tsakos Energy Navigation by 22.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company’s stock valued at $32,114,000 after purchasing an additional 151,195 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Tsakos Energy Navigation by 15.2% during the 1st quarter. Renaissance Technologies LLC now owns 466,225 shares of the company’s stock valued at $18,397,000 after purchasing an additional 61,428 shares during the last quarter. Finally, Cooper Creek Partners Management LLC bought a new stake in shares of Tsakos Energy Navigation during the 1st quarter valued at approximately $15,688,000. 19.24% of the stock is owned by institutional investors and hedge funds.

About Tsakos Energy Navigation

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.