Tsakos Energy Navigation (NYSE:TEN) Reaches New 52-Week High - What's Next?

Key Points

• Tsakos Energy Navigation shares reached a new 52-week high, trading as high as $51.24 and most recently near $51.00, well above the previous close of $49.62.
• The company exceeded quarterly expectations, reporting $3.14 in EPS versus the $2.93 consensus estimate and revenue of $246.28 million compared with expectations of $238.87 million.
• Despite the strong performance, analysts maintain a consensus “Hold” rating with a $29.50 target price, substantially below the current share price; one analyst rates it Buy and two rate it Hold.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $51.24 and last traded at $51.0040, with a volume of 746245 shares changing hands. The stock had previously closed at $49.62.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tsakos Energy Navigation in a report on Monday, July 6th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Tsakos Energy Navigation currently has a consensus rating of "Hold" and a consensus target price of $29.50.

Tsakos Energy Navigation Price Performance

The company has a 50-day moving average of $41.22 and a 200 day moving average of $39.62. 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 firm has a market cap of $1.54 billion, a P/E ratio of 5.17 and a beta of -0.26.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last issued its quarterly earnings data on Thursday, September 10th. The company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.21. The firm had revenue of $246.28 million for the quarter, compared to analysts' expectations of $238.87 million. Tsakos Energy Navigation had a net margin of 33.81% and a return on equity of 46.44%.

Insider Buying and Selling

In related news, 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 transaction of $205,350.00. Following the completion of the sale, the director directly owned 5,000 shares of the company's stock, valued at $205,350. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Tsakos Energy Navigation

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in shares of Tsakos Energy Navigation by 56.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the company's stock worth $81,000 after acquiring an additional 743 shares in the last quarter. Savant Capital LLC lifted its position in shares of Tsakos Energy Navigation by 6.6% in the fourth quarter. Savant Capital LLC now owns 13,356 shares of the company's stock worth $299,000 after purchasing an additional 825 shares in the last quarter. Main Street Financial Solutions LLC boosted its holdings in Tsakos Energy Navigation by 0.6% during the fourth quarter. Main Street Financial Solutions LLC now owns 396,909 shares of the company's stock worth $8,899,000 after purchasing an additional 2,445 shares during the last quarter. Royal Bank of Canada boosted its holdings in Tsakos Energy Navigation by 638.2% during the first quarter. Royal Bank of Canada now owns 2,997 shares of the company's stock worth $118,000 after purchasing an additional 2,591 shares during the last quarter. Finally, R Squared Ltd bought a new position in Tsakos Energy Navigation in the first quarter valued at $231,000. Institutional investors own 19.24% of the company's stock.

About Tsakos Energy Navigation

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.

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