Tsakos Energy Navigation (NYSE:TEN) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Tsakos Energy Navigation (NYSE:TEN) from a buy rating to a hold rating in a report issued on Sunday morning.

Other equities analysts have also recently issued reports about the stock. Clarkson Capital began coverage on shares of Tsakos Energy Navigation in a research note on Monday, December 15th. They set a “buy” rating and a $35.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a report 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. Based on data from MarketBeat, Tsakos Energy Navigation presently has an average rating of “Hold” and an average price target of $29.50.

Tsakos Energy Navigation Stock Performance

NYSE TEN opened at $39.60 on Friday. The business has a 50-day moving average price of $30.83 and a 200-day moving average price of $25.95. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 8.88 and a beta of -0.27. Tsakos Energy Navigation has a twelve month low of $13.40 and a twelve month high of $39.69. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.90.

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, topping the consensus estimate of $0.77 by $0.93. The business had revenue of $182.96 million during 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, equities research analysts predict that Tsakos Energy Navigation will post 3.44 EPS for the current fiscal year.

Institutional Trading of Tsakos Energy Navigation

A number of large investors have recently made changes to their positions in the business. Sagil Capital LLP lifted its holdings in shares of Tsakos Energy Navigation by 13.7% in the 4th quarter. Sagil Capital LLP now owns 861,366 shares of the company’s stock valued at $19,312,000 after acquiring an additional 103,801 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Tsakos Energy Navigation by 602.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company’s stock worth $15,917,000 after acquiring an additional 711,313 shares during the last quarter. Renaissance Technologies LLC raised its position in Tsakos Energy Navigation by 2.1% during the fourth quarter. Renaissance Technologies LLC now owns 404,797 shares of the company’s stock valued at $9,076,000 after purchasing an additional 8,217 shares during the period. Main Street Financial Solutions LLC lifted its stake in shares of Tsakos Energy Navigation by 0.6% in 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 during the last quarter. Finally, Pale Fire Capital SE boosted its holdings in shares of Tsakos Energy Navigation by 2.1% in the 2nd quarter. Pale Fire Capital SE now owns 360,433 shares of the company’s stock worth $6,917,000 after purchasing an additional 7,376 shares during the period. 19.24% of the stock is currently owned by 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.