Tsakos Energy Navigation (NYSE:TEN) Shares Up 6.8% – Still a Buy?

Tsakos Energy Navigation Ltd (NYSE:TEN) shares shot up 6.8% during trading on Thursday . The stock traded as high as $38.10 and last traded at $37.7620. 73,256 shares changed hands during trading, a decline of 82% from the average session volume of 406,301 shares. The stock had previously closed at $35.37.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TEN. Wall Street Zen raised Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Wednesday, April 8th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Stock Performance

The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 6.09 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. The stock has a 50 day simple moving average of $39.74 and a two-hundred day simple moving average of $33.79.

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

Tsakos Energy Navigation Announces Dividend

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

Insider Activity at Tsakos Energy Navigation

In related news, CEO Nikolaos Tsakos purchased 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were purchased at an average cost of $39.92 per share, for a total transaction of $499,000.00. Following the purchase, the chief executive officer directly owned 906,000 shares of the company’s stock, valued at $36,167,520. The trade was a 1.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.41% of the stock is owned by company insiders.

Institutional Trading of Tsakos Energy Navigation

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of Tsakos Energy Navigation by 312.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after purchasing an additional 993 shares during the period. Barclays PLC acquired a new position in Tsakos Energy Navigation during the fourth quarter worth approximately $36,000. Smartleaf Asset Management LLC boosted its holdings in shares of Tsakos Energy Navigation by 186.5% in the fourth 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 purchased a new position in shares of Tsakos Energy Navigation during the fourth quarter worth approximately $56,000. Finally, Raymond James Financial Inc. purchased a new stake in Tsakos Energy Navigation in the 2nd quarter valued at $58,000. Institutional investors and hedge funds 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.