Tsakos Energy Navigation (NYSE:TEN) Sets New 1-Year High – Still a Buy?

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN) hit a new 52-week high on Monday . The company traded as high as $37.61 and last traded at $36.4850, with a volume of 242003 shares traded. The stock had previously closed at $35.30.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group reissued a “hold” rating and set a $24.00 price target on shares of Tsakos Energy Navigation in a research note on Thursday, November 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Friday, January 9th. Finally, Clarkson Capital began coverage on shares of Tsakos Energy Navigation in a report on Monday, December 15th. They set a “buy” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $29.50.

Tsakos Energy Navigation Stock Down 2.1%

The company has a market cap of $1.09 billion, a price-to-earnings ratio of 11.40 and a beta of -0.27. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.25 and a current ratio of 1.30. The stock’s fifty day moving average is $26.94 and its two-hundred day moving average is $24.41.

Institutional Investors Weigh In On Tsakos Energy Navigation

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fox Run Management L.L.C. bought a new stake in Tsakos Energy Navigation during the 3rd quarter worth approximately $328,000. Tidal Investments LLC boosted its holdings in Tsakos Energy Navigation by 13.2% in the 2nd quarter. Tidal Investments LLC now owns 12,733 shares of the company’s stock valued at $244,000 after purchasing an additional 1,482 shares during the period. Main Street Financial Solutions LLC grew its position in shares of Tsakos Energy Navigation by 0.6% during the 4th quarter. Main Street Financial Solutions LLC now owns 396,909 shares of the company’s stock valued at $8,899,000 after purchasing an additional 2,445 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Tsakos Energy Navigation by 9.6% in the second quarter. Osaic Holdings Inc. now owns 7,821 shares of the company’s stock worth $150,000 after purchasing an additional 684 shares during the period. Finally, UBS Group AG raised its position in shares of Tsakos Energy Navigation by 1.8% in the third quarter. UBS Group AG now owns 115,500 shares of the company’s stock worth $2,566,000 after buying an additional 2,089 shares in the last quarter. 19.24% of the stock is owned by hedge funds and other institutional investors.

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.