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

Tsakos Energy Navigation Ltd (NYSE:TEN)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $37.90 and traded as high as $42.82. Tsakos Energy Navigation shares last traded at $42.6630, with a volume of 230,391 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Monday, July 6th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Price Performance

The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average of $39.25 and a two-hundred day moving average of $38.01. The firm has a market cap of $1.21 billion, a P/E ratio of 6.57 and a beta of -0.28.

Tsakos Energy Navigation Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, July 30th. Stockholders of record on Thursday, July 23rd were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a dividend yield of 507.0%. Tsakos Energy Navigation’s payout ratio is 32.57%.

Insider Activity at Tsakos Energy Navigation

In other Tsakos Energy Navigation news, Director Clio Hatzimichalis sold 5,000 shares of Tsakos Energy Navigation stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $41.07, for a total transaction of $205,350.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $205,350. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tsakos Energy Navigation

Hedge funds have recently modified their holdings of the stock. Navellier & Associates Inc. lifted its position in shares of Tsakos Energy Navigation by 297.0% during the 2nd quarter. Navellier & Associates Inc. now owns 96,633 shares of the company’s stock worth $3,418,000 after buying an additional 72,293 shares during the period. NewEdge Advisors LLC grew its position in Tsakos Energy Navigation by 25,093.5% during the 1st quarter. NewEdge Advisors LLC now owns 11,589 shares of the company’s stock worth $457,000 after acquiring an additional 11,543 shares during the last quarter. Bank of America Corp DE raised its holdings in Tsakos Energy Navigation by 214.4% during the 1st quarter. Bank of America Corp DE now owns 92,833 shares of the company’s stock worth $3,663,000 after purchasing an additional 63,304 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Tsakos Energy Navigation by 56.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the company’s stock valued at $81,000 after purchasing an additional 743 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Tsakos Energy Navigation by 638.2% during the first quarter. Royal Bank of Canada now owns 2,997 shares of the company’s stock worth $118,000 after buying an additional 2,591 shares during the last quarter. 19.24% of the stock is owned by institutional investors and hedge funds.

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.