Tsakos Energy Navigation (NYSE:TEN) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Tsakos Energy Navigation Ltd (NYSE:TEN)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.45 and traded as high as $38.35. Tsakos Energy Navigation shares last traded at $37.1090, with a volume of 195,497 shares changing hands.

Analyst Ratings Changes

TEN has been the topic of a number of recent research reports. Wall Street Zen raised shares of Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Wednesday, April 8th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Tsakos Energy Navigation presently has an average rating of “Hold” and a consensus target price of $29.50.

Tsakos Energy Navigation Stock Performance

The company’s fifty day moving average price is $40.11 and its 200 day moving average price is $32.49. The company has a market cap of $1.17 billion, a PE ratio of 6.30 and a beta of -0.30. 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 (NYSE:TEN) last announced its earnings results on Thursday, May 21st. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.07 by $0.65. The company had revenue of $223.12 million during the quarter, compared to the consensus estimate of $208.77 million. Tsakos Energy Navigation had a net margin of 24.81% and a return on equity of 23.26%.

Insider Activity at Tsakos Energy Navigation

In other news, CEO Nikolaos Tsakos bought 12,500 shares of the stock in a transaction dated Tuesday, April 28th. The stock was bought at an average price of $39.92 per share, for a total transaction of $499,000.00. Following the completion of the acquisition, the chief executive officer directly owned 906,000 shares in the company, valued at approximately $36,167,520. This trade represents a 1.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Tsakos Energy Navigation

Several institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. increased its holdings in Tsakos Energy Navigation by 9.6% during the second quarter. Osaic Holdings Inc. now owns 7,821 shares of the company’s stock worth $150,000 after buying an additional 684 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Tsakos Energy Navigation by 56.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the company’s stock worth $81,000 after buying an additional 743 shares during the last quarter. Savant Capital LLC increased its holdings in Tsakos Energy Navigation by 6.6% during the fourth quarter. Savant Capital LLC now owns 13,356 shares of the company’s stock worth $299,000 after buying an additional 825 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in Tsakos Energy Navigation by 1.9% during the fourth quarter. Tudor Investment Corp ET AL now owns 78,555 shares of the company’s stock worth $1,761,000 after buying an additional 1,445 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in Tsakos Energy Navigation by 13.2% during the second quarter. Tidal Investments LLC now owns 12,733 shares of the company’s stock worth $244,000 after buying an additional 1,482 shares during the last quarter. Hedge funds and other institutional investors 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.