Tsakos Energy Navigation (NYSE:TEN) Hits New 52-Week High – Time to Buy?

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN) hit a new 52-week high on Tuesday . The stock traded as high as $41.25 and last traded at $40.3750, with a volume of 38904 shares trading hands. The stock had previously closed at $40.71.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen downgraded Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Clarkson Capital assumed coverage on Tsakos Energy Navigation in a research note on Monday, December 15th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Friday, January 9th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Price Performance

The stock has a market capitalization of $1.18 billion, a PE ratio of 8.81 and a beta of -0.30. The stock has a 50 day moving average of $33.73 and a two-hundred day moving average of $27.19.

Tsakos Energy Navigation (NYSE:TEN) last posted its quarterly earnings results on Friday, March 6th. The company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.93. The firm had revenue of $182.96 million for the quarter, compared to the consensus estimate of $162.84 million. Tsakos Energy Navigation had a return on equity of 26.29% and a net margin of 20.15%. As a group, research analysts predict that Tsakos Energy Navigation Ltd will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tsakos Energy Navigation

Several hedge funds and other institutional investors have recently bought and sold shares of TEN. JPMorgan Chase & Co. acquired a new position in Tsakos Energy Navigation during the second quarter worth $672,000. Hsbc Holdings PLC raised its holdings in Tsakos Energy Navigation by 91.1% during the second quarter. Hsbc Holdings PLC now owns 29,880 shares of the company’s stock worth $573,000 after purchasing an additional 14,242 shares during the last quarter. New York State Common Retirement Fund acquired a new position in Tsakos Energy Navigation during the second quarter worth $761,000. EverSource Wealth Advisors LLC raised its holdings in Tsakos Energy Navigation by 312.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after purchasing an additional 993 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in Tsakos Energy Navigation during the second quarter worth $296,000. 19.24% of the stock is owned by institutional investors and hedge funds.

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.