Tsakos Energy Navigation (NYSE:TEN) Sets New 52-Week High – Here’s Why

Tsakos Energy Navigation Ltd (NYSE:TEN) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $44.59 and last traded at $44.30, with a volume of 80811 shares changing hands. The stock had previously closed at $42.92.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TEN shares. Weiss Ratings reissued 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 report on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Stock Performance

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.92. The company has a market capitalization of $1.34 billion, a PE ratio of 9.95 and a beta of -0.27. The firm’s fifty day simple moving average is $39.36 and its 200 day simple moving average is $30.73.

Tsakos Energy Navigation (NYSE:TEN) last posted its quarterly earnings results on Friday, March 6th. The company reported $1.70 EPS for the quarter, beating 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 17.26%. The company had revenue of $182.96 million for the quarter, compared to analyst estimates of $162.84 million.

Insider Buying and Selling

In other Tsakos Energy Navigation news, CEO Nikolaos Tsakos purchased 12,500 shares of the stock in a transaction on Tuesday, April 28th. The shares were bought at an average cost of $39.92 per share, with a total value of $499,000.00. Following the completion of the acquisition, the chief executive officer owned 906,000 shares in the company, valued at $36,167,520. This trade represents a 1.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Tsakos Energy Navigation

Hedge funds have recently modified their holdings of the company. Tudor Investment Corp ET AL boosted its stake in shares of Tsakos Energy Navigation by 51.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 77,110 shares of the company’s stock worth $1,713,000 after acquiring an additional 26,097 shares in the last quarter. FourThought Financial Partners LLC purchased a new stake in shares of Tsakos Energy Navigation during the 3rd quarter worth about $328,000. Fox Run Management L.L.C. purchased a new position in Tsakos Energy Navigation in the 3rd quarter valued at about $328,000. Sagil Capital LLP lifted its stake in 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 buying an additional 103,801 shares in the last quarter. Finally, Savant Capital LLC lifted 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 valued at $299,000 after buying an additional 825 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. (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.