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

Tsakos Energy Navigation Ltd (NYSE:TEN)’s stock price reached a new 52-week high during trading on Monday. The company traded as high as $54.36 and last traded at $54.24, with a volume of 384,621 shares changing hands. The stock had previously closed at $51.40.

Analysts Set New Price Targets

TEN has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Friday, October 2nd. Wall Street Zen raised Tsakos Energy Navigation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 19th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tsakos Energy Navigation currently has an average rating of “Hold” and an average price target of $29.50.

Tsakos Energy Navigation Stock Performance

The company has a market cap of $1.63 billion, a P/E ratio of 5.48 and a beta of -0.10. The company has a quick ratio of 1.35, a current ratio of 1.40 and a debt-to-equity ratio of 0.91. The business has a fifty day simple moving average of $44.89 and a two-hundred day simple moving average of $41.34.

Tsakos Energy Navigation (NYSE:TEN) last released its quarterly earnings results on Thursday, September 10th. The company reported $3.14 EPS for the quarter, beating the consensus estimate of $2.93 by $0.21. Tsakos Energy Navigation had a net margin of 33.81% and a return on equity of 29.44%. The firm had revenue of $246.28 million during the quarter, compared to analyst estimates of $238.87 million.

Insider Activity at Tsakos Energy Navigation

In other news, CFO Theoharrys Kosmatos sold 10,000 shares of the company’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $53.00, for a total value of $530,000.00. Following the completion of the sale, the chief financial officer directly owned 14,700 shares in the company, valued at $779,100. This represents a 40.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Clio Hatzimichalis sold 5,000 shares of the firm’s stock in a transaction 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 directly owned 5,000 shares in the company, valued at approximately $205,350. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Tsakos Energy Navigation

Hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. purchased a new stake in Tsakos Energy Navigation in the second quarter worth about $346,000. State Street Corp lifted its position in shares of Tsakos Energy Navigation by 2.4% during the 2nd quarter. State Street Corp now owns 65,687 shares of the company’s stock valued at $2,323,000 after buying an additional 1,522 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Tsakos Energy Navigation during the 2nd quarter valued at approximately $669,000. Navellier & Associates Inc. grew its stake 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 valued at $3,418,000 after acquiring an additional 72,293 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in Tsakos Energy Navigation by 25,093.5% in 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 in the last quarter. Institutional investors own 19.24% of the company’s stock.

About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd. is an international marine transportation company focused primarily on the ownership and operation of crude oil and refined petroleum product tankers. Its fleet has historically included a range of vessels serving the global energy industry, including Aframax, Suezmax and other tanker classes, as well as specialized vessels such as shuttle tankers.

The company transports crude oil, petroleum products and other energy-related cargoes for major oil companies, refiners, trading firms and government-affiliated organizations.