Tsakos Energy Navigation (NYSE:TEN) Share Price Breaks Above 200 Day Moving Average - What's Next?

Key Points

• Tsakos Energy Navigation shares rose above their 200-day moving average, reaching $47.67 and last trading near $47.11, compared with the $40.52 long-term average.
• Analysts remain cautious overall: the stock carries an average “Hold” rating and a $29.50 price target, despite one firm upgrading it to “strong buy.”
• The company exceeded quarterly expectations, reporting $3.14 in EPS versus $2.93 expected and $246.28 million in revenue versus $238.87 million forecast; however, company insiders recently sold shares.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $40.52 and traded as high as $47.67. Tsakos Energy Navigation shares last traded at $47.1070, with a volume of 454,793 shares traded.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen raised Tsakos Energy Navigation from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 19th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tsakos Energy Navigation in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $29.50.

Tsakos Energy Navigation Trading Up 1.7%

The company has a debt-to-equity ratio of 0.91, a current ratio of 1.40 and a quick ratio of 1.35. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 4.77 and a beta of -0.26. The business's fifty day moving average price is $43.18 and its 200 day moving average price is $40.52.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last posted its quarterly earnings data on Thursday, September 10th. The company reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $2.93 by $0.21. The business 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 29.44% and a net margin of 33.81%.

Insider Activity

In related news, CFO Theoharrys Kosmatos sold 10,000 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Clio Hatzimichalis sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $41.07, for a total transaction of $205,350.00. Following the sale, the director directly owned 5,000 shares of the company's stock, valued at $205,350. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Tsakos Energy Navigation

Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. bought a new position in Tsakos Energy Navigation during the second quarter worth $346,000. State Street Corp lifted its holdings in Tsakos Energy Navigation by 2.4% in the second 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 during the period. Squarepoint Ops LLC bought a new stake in Tsakos Energy Navigation during the second quarter valued at $669,000. Navellier & Associates Inc. grew its holdings in Tsakos Energy Navigation by 297.0% during the 2nd quarter. Navellier & Associates Inc. now owns 96,633 shares of the company's stock worth $3,418,000 after acquiring an additional 72,293 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of 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. 19.24% of the stock is owned by institutional investors.

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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