Tsakos Energy Navigation (NYSE:TEN) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Tsakos Energy Navigation (NYSE:TEN) from a buy rating to a strong-buy rating in a report published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Price Performance

Shares of TEN stock opened at $52.06 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.92 and a current ratio of 0.95. Tsakos Energy Navigation has a fifty-two week low of $20.50 and a fifty-two week high of $53.84. The firm has a market cap of $1.57 billion, a P/E ratio of 5.27 and a beta of -0.26. The business’s 50 day moving average price is $42.02 and its 200-day moving average price is $39.95.

Tsakos Energy Navigation (NYSE:TEN) last announced its earnings results on Thursday, September 10th. The company reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.21. The company had revenue of $246.28 million during the quarter, compared to the consensus estimate of $238.87 million. Tsakos Energy Navigation had a return on equity of 46.44% and a net margin of 33.81%.

Insider Activity

In other news, Director Clio Hatzimichalis sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $41.07, for a total value of $205,350.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $205,350. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Tsakos Energy Navigation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sagil Capital LLP raised its holdings in Tsakos Energy Navigation by 13.7% in the fourth quarter. Sagil Capital LLP now owns 861,366 shares of the company’s stock worth $19,312,000 after purchasing an additional 103,801 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of 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 valued at $3,663,000 after buying an additional 63,304 shares in the last quarter. Marnell Management LLC purchased a new stake in shares of Tsakos Energy Navigation in the 4th quarter worth about $762,000. Walleye Capital LLC boosted its stake in Tsakos Energy Navigation by 654.1% during the first quarter. Walleye Capital LLC now owns 286,314 shares of the company’s stock worth $11,298,000 after acquiring an additional 248,345 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Tsakos Energy Navigation by 22.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company’s stock valued at $32,114,000 after purchasing an additional 151,195 shares in 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. is a Greek-based international tanker company that owns and operates vessels serving the global energy transportation industry. Its fleet has historically included crude oil tankers, product tankers, shuttle tankers and liquefied natural gas carriers, enabling the company to transport crude oil, refined petroleum products and other energy commodities.

Founded in 1993, Tsakos Energy Navigation developed a diversified fleet serving oil companies, refiners, commodity traders and other charterers.