Tsakos Energy Navigation (NYSE:TEN) Raised to Buy at Wall Street Zen

Tsakos Energy Navigation (NYSE:TEN) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other brokerages also recently commented on TEN. Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 price objective on shares of Tsakos Energy Navigation in a research note on Thursday, November 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Friday, January 9th. Finally, Clarkson Capital began coverage on Tsakos Energy Navigation in a report on Monday, December 15th. They issued a “buy” rating and a $35.00 price target for the company. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Tsakos Energy Navigation presently has an average rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Stock Down 3.0%

Shares of NYSE TEN opened at $33.76 on Friday. Tsakos Energy Navigation has a 52-week low of $13.40 and a 52-week high of $38.87. 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 has a market cap of $1.02 billion, a P/E ratio of 7.57 and a beta of -0.27. The firm has a 50 day moving average price of $29.10 and a 200 day moving average price of $25.24.

Tsakos Energy Navigation (NYSE:TEN) last posted its earnings results on Friday, March 6th. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.93. Tsakos Energy Navigation had a net margin of 20.15% and a return on equity of 26.29%. The company had revenue of $182.96 million for the quarter, compared to analyst estimates of $162.84 million. Analysts expect that Tsakos Energy Navigation will post 3.44 EPS for the current year.

Institutional Trading of Tsakos Energy Navigation

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in Tsakos Energy Navigation by 312.3% in the second 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 in the last quarter. Barclays PLC bought a new stake in shares of Tsakos Energy Navigation during the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC raised its stake in shares of Tsakos Energy Navigation by 186.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock worth $54,000 after purchasing an additional 1,585 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Tsakos Energy Navigation in the 4th quarter valued at approximately $56,000. Finally, Raymond James Financial Inc. bought a new position in shares of Tsakos Energy Navigation in the second quarter valued at $58,000. 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.