Tsakos Energy Navigation (NYSE:TEN) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TEN shares. Weiss Ratings reissued 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 report on Saturday, April 11th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Trading Up 1.6%

The stock has a market cap of $1.11 billion, a P/E ratio of 5.93 and a beta of -0.30. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. The stock’s fifty day moving average price is $40.22 and its 200 day moving average price is $32.07.

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. Tsakos Energy Navigation had a net margin of 24.81% and a return on equity of 23.26%. The firm had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $208.77 million.

Insider Activity at Tsakos Energy Navigation

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 shares were purchased at an average price of $39.92 per share, for a total transaction of $499,000.00. Following the acquisition, the chief executive officer owned 906,000 shares in the company, valued at approximately $36,167,520. This represents a 1.40% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of hedge funds have recently bought and sold shares of TEN. EverSource Wealth Advisors LLC boosted its stake in Tsakos Energy Navigation by 312.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after purchasing an additional 993 shares in the last quarter. Barclays PLC bought a new position in Tsakos Energy Navigation in the 4th quarter worth about $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 in the last quarter. Summit Securities Group LLC bought a new position in Tsakos Energy Navigation in the 4th quarter worth about $56,000. Finally, Raymond James Financial Inc. bought a new position in Tsakos Energy Navigation in the 2nd quarter worth about $58,000. Institutional investors own 19.24% of the company’s stock.

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.