Tsakos Energy Navigation (NYSE:TEN) Hits New 52-Week High - Should You Buy?

Key Points

• Tsakos Energy Navigation reached a new 52-week high, trading as high as $46.65 and last changing hands at $45.44, with a market capitalization of approximately $1.37 billion.
• Analyst sentiment remains cautious: one analyst rates the stock Buy and two rate it Hold, producing an overall Hold consensus and a $29.50 average price target—well below the recent market price.
• The company recently paid a $1.00 dividend per share, while its reported payout ratio was 32.57%; meanwhile, a director sold 5,000 shares at an average price of $41.07.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report)'s stock price hit a new 52-week high on Thursday . The company traded as high as $46.65 and last traded at $45.4420, with a volume of 99148 shares. The stock had previously closed at $44.32.

Wall Street Analyst Weigh In

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, Tsakos Energy Navigation 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 50 day simple moving average of $40.38 and a 200-day simple moving average of $39.16. The stock has a market capitalization of $1.37 billion, a P/E ratio of 7.41 and a beta of -0.26.

Tsakos Energy Navigation Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, July 30th. Stockholders of record on Thursday, July 23rd were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a dividend yield of 507.0%. Tsakos Energy Navigation's payout ratio is 32.57%.

Insider Buying and Selling

In related news, Director Clio Hatzimichalis sold 5,000 shares of Tsakos Energy Navigation stock in a transaction that occurred on Thursday, August 13th. The shares were 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. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.41% of the company's stock.

Institutional Investors Weigh In On Tsakos Energy Navigation

Several institutional investors have recently made changes to their positions in TEN. Sagil Capital LLP grew its position in shares of Tsakos Energy Navigation by 13.7% in the fourth quarter. Sagil Capital LLP now owns 861,366 shares of the company's stock valued at $19,312,000 after purchasing an additional 103,801 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Tsakos Energy Navigation by 602.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company's stock worth $15,917,000 after purchasing an additional 711,313 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Tsakos Energy Navigation by 22.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company's stock valued at $32,114,000 after buying an additional 151,195 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Tsakos Energy Navigation by 15.2% during the 1st quarter. Renaissance Technologies LLC now owns 466,225 shares of the company's stock valued at $18,397,000 after buying an additional 61,428 shares in the last quarter. Finally, Cooper Creek Partners Management LLC bought a new stake in shares of Tsakos Energy Navigation during the first quarter valued at about $15,688,000. Hedge funds and other institutional investors own 19.24% of the company's stock.

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.

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