Tsakos Energy Navigation (NYSE:TEN) Announces Earnings Results

Tsakos Energy Navigation (NYSE:TEN) issued its earnings results on Thursday. The company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.65, Zacks reports. Tsakos Energy Navigation had a return on equity of 17.26% and a net margin of 20.15%.

Tsakos Energy Navigation Price Performance

Shares of TEN traded up $1.06 during trading hours on Thursday, hitting $45.17. 92,328 shares of the company were exchanged, compared to its average volume of 425,905. The firm has a fifty day simple moving average of $39.50 and a 200-day simple moving average of $30.87. The company has a market capitalization of $1.36 billion, a PE ratio of 10.13 and a beta of -0.27. 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 has a one year low of $17.14 and a one year high of $45.85.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Nikolaos Tsakos purchased 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were purchased at an average price of $39.92 per share, with a total value of $499,000.00. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of Tsakos Energy Navigation by 312.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after acquiring an additional 993 shares in the last quarter. Barclays PLC purchased a new stake in shares of Tsakos Energy Navigation in the 4th quarter valued at approximately $36,000. Smartleaf Asset Management LLC boosted its stake 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 worth $54,000 after purchasing an additional 1,585 shares during the period. Summit Securities Group LLC purchased a new position in Tsakos Energy Navigation during the 4th quarter worth approximately $56,000. Finally, Raymond James Financial Inc. purchased a new position in Tsakos Energy Navigation during the 2nd quarter worth approximately $58,000. 19.24% of the stock is currently 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.