Tsakos Energy Navigation (NYSE:TEN) Sets New 1-Year High on Insider Buying Activity

Key Points

• Insider buying drove the stock to a new 52‑week high — CEO Nikolaos Tsakos purchased 12,500 shares at an average $39.92 (about $499,000), increasing his stake to 906,000 shares and the stock traded as high as $42.20.
• The company reported a strong quarter, with EPS $1.70 beating the $0.77 estimate and revenue of $182.96M vs. $162.84M expected, supporting a net margin of 20.15% and ROE of 17.26%.
• Despite the rally, analyst coverage is mixed: the consensus rating is "Hold" (one Buy, three Hold) with an average target price of $29.50, while the stock has a market cap of about $1.25 billion and a P/E of 9.29.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report)'s share price reached a new 52-week high during trading on Friday after an insider bought additional shares in the company. The stock traded as high as $42.20 and last traded at $41.39, with a volume of 44834 shares traded. The stock had previously closed at $40.68.

Specifically, CEO Nikolaos Tsakos acquired 12,500 shares of the firm's 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 of the company's stock, valued at $36,167,520. This trade represents a 1.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

A number of research firms have recently issued reports on TEN. Weiss Ratings reiterated a "hold (c)" rating on shares of Tsakos Energy Navigation in a research note on Wednesday, April 8th. Wall Street Zen upgraded shares of Tsakos Energy Navigation from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $29.50.

Tsakos Energy Navigation Trading Up 2.1%

The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $1.25 billion, a P/E ratio of 9.29 and a beta of -0.30. The business has a 50 day moving average price of $37.41 and a 200 day moving average price of $29.05.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last released its quarterly earnings data on Friday, March 6th. The company reported $1.70 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $182.96 million during the quarter, compared to analysts' expectations of $162.84 million.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEN. EverSource Wealth Advisors LLC boosted its stake in Tsakos Energy Navigation by 312.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company's stock worth $25,000 after purchasing an additional 993 shares during the period. Barclays PLC acquired a new stake in shares of Tsakos Energy Navigation in the fourth quarter valued at about $36,000. Smartleaf Asset Management LLC increased its position in shares of Tsakos Energy Navigation by 186.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company's stock valued at $54,000 after acquiring an additional 1,585 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Tsakos Energy Navigation in the fourth quarter valued at about $56,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Tsakos Energy Navigation in the second quarter valued at about $58,000. 19.24% of the stock is owned by institutional investors and hedge funds.

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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