Tsakos Energy Navigation (NYSE:TEN) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Technical breakout: Tsakos Energy Navigation's stock crossed above its 200-day moving average of $28.15, trading as high as $40.09 and last at $39.95 on volume of 362,413 shares, well above its 50-day average of $35.67.
• Analyst view: The consensus rating remains "Hold" with an average target price of $29.50, though Wall Street Zen recently upgraded the stock to a "Buy" and one analyst rates it as a Buy versus three Holds.
• Fundamentals and results: The company posted a quarterly EPS of $1.70 versus $0.77 expected and revenue of $182.96M (vs. $162.84M est.), with a market cap of about $1.2B, a P/E of 8.96 and a net margin of 20.15%.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.15 and traded as high as $40.09. Tsakos Energy Navigation shares last traded at $39.9470, with a volume of 362,413 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TEN shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tsakos Energy Navigation in a report on Wednesday, April 8th. Wall Street Zen raised shares of Tsakos Energy Navigation from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $29.50.

Tsakos Energy Navigation Stock Up 1.4%

The stock has a market capitalization of $1.20 billion, a P/E ratio of 8.96 and a beta of -0.30. The firm's fifty day moving average is $35.67 and its 200-day moving average is $28.15. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last announced its quarterly earnings results on Friday, March 6th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $182.96 million during the quarter, compared to the consensus estimate of $162.84 million.

Hedge Funds Weigh In On Tsakos Energy Navigation

Several institutional investors have recently added to or reduced their stakes in TEN. JPMorgan Chase & Co. bought a new position in Tsakos Energy Navigation during the 2nd quarter valued at about $672,000. Hsbc Holdings PLC increased its position in Tsakos Energy Navigation by 91.1% in the 2nd quarter. Hsbc Holdings PLC now owns 29,880 shares of the company's stock valued at $573,000 after acquiring an additional 14,242 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in Tsakos Energy Navigation in the 2nd quarter valued at about $761,000. EverSource Wealth Advisors LLC increased its position 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 valued at $25,000 after acquiring an additional 993 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in Tsakos Energy Navigation in the 2nd quarter valued at about $296,000. 19.24% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.