Tsakos Energy Navigation (NYSE:TEN) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.28 and traded as high as $21.87. Tsakos Energy Navigation shares last traded at $21.48, with a volume of 207,638 shares traded.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $22.00 target price on shares of Tsakos Energy Navigation in a research note on Wednesday, September 10th. Zacks Research downgraded Tsakos Energy Navigation from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tsakos Energy Navigation in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.00.

Tsakos Energy Navigation Price Performance

The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $647.19 million, a PE ratio of 7.67 and a beta of -0.13. The company has a 50-day moving average of $21.67 and a 200 day moving average of $19.28.

Tsakos Energy Navigation (NYSE:TEN) last issued its quarterly earnings results on Wednesday, September 10th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.59 by $0.08. Tsakos Energy Navigation had a return on equity of 12.03% and a net margin of 14.17%.The firm had revenue of $161.39 million during the quarter, compared to analysts’ expectations of $163.62 million. Sell-side analysts predict that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current year.

Institutional Trading of Tsakos Energy Navigation

Several large investors have recently added to or reduced their stakes in TEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Tsakos Energy Navigation by 602.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company’s stock valued at $15,917,000 after buying an additional 711,313 shares in the last quarter. Jump Financial LLC grew its holdings in Tsakos Energy Navigation by 693.1% in the 2nd quarter. Jump Financial LLC now owns 124,223 shares of the company’s stock valued at $2,384,000 after buying an additional 108,561 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in Tsakos Energy Navigation in the 2nd quarter valued at $761,000. JPMorgan Chase & Co. purchased a new stake in Tsakos Energy Navigation in the 2nd quarter valued at $672,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Tsakos Energy Navigation in the 2nd quarter valued at $384,000. 19.24% of the stock is currently owned by hedge funds and other institutional investors.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd. engages in the provision of seaborne crude oil and petroleum product transportation services. Its activities include the operation of crude tankers, product tankers, and liquefied natural gas carriers. The company was founded by Nikolas P. Tsakos and Michael Gordon Jolliffee in July 1993 and is headquartered in Athens, Greece.