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

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $33.27 and traded as high as $41.36. Tsakos Energy Navigation shares last traded at $41.33, with a volume of 619,336 shares.

Analysts Set New Price Targets

TEN has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Wednesday, April 8th. 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. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.50.

Tsakos Energy Navigation Trading Down 3.9%

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.92 and a current ratio of 0.95. The business has a fifty day simple moving average of $40.02 and a 200 day simple moving average of $33.37. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 6.12 and a beta of -0.30.

Tsakos Energy Navigation (NYSE:TEN) last issued its quarterly earnings data on Thursday, May 21st. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.65. The business had revenue of $223.12 million for the quarter, compared to the consensus estimate of $208.77 million. Tsakos Energy Navigation had a return on equity of 23.26% and a net margin of 24.81%.

Tsakos Energy Navigation Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 23rd will be paid a dividend of $1.00 per share. This represents a dividend yield of 515.0%. The ex-dividend date of this dividend is Thursday, July 23rd. Tsakos Energy Navigation’s dividend payout ratio (DPR) is currently 26.06%.

Insider Activity at Tsakos Energy Navigation

In other news, CEO Nikolaos Tsakos purchased 12,500 shares of the stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average cost 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 $36,167,520. This represents a 1.40% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.41% of the stock is currently owned by company insiders.

Institutional Trading of Tsakos Energy Navigation

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its stake in shares of Tsakos Energy Navigation by 9.6% during the 2nd 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. EverSource Wealth Advisors LLC grew its position in shares of Tsakos Energy Navigation by 56.6% in the first 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 period. Savant Capital LLC boosted its stake in Tsakos Energy Navigation by 6.6% in the 4th 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 grew its holdings in Tsakos Energy Navigation by 1.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 78,555 shares of the company’s stock valued at $1,761,000 after buying an additional 1,445 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of Tsakos Energy Navigation by 13.2% during the 2nd quarter. Tidal Investments LLC now owns 12,733 shares of the company’s stock valued at $244,000 after acquiring an additional 1,482 shares during the last quarter. 19.24% of the stock is owned by hedge funds and other institutional investors.

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.