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

Key Points

• Tsakos Energy Navigation Ltd (NYSE:TEN) shares surpassed their 200-day moving average of $19.08, reaching a high of $22.59 during trading.
• The company reported earnings of $0.67 per share, beating analyst expectations of $0.59, but its revenue of $161.39 million fell short of the expected $163.62 million.
• Analyst ratings for Tsakos Energy Navigation show mixed sentiment, with one analyst giving a Buy rating and two maintaining a Hold rating, resulting in a consensus rating of "Hold" and a price target of $31.00.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.08 and traded as high as $22.59. Tsakos Energy Navigation shares last traded at $22.32, with a volume of 226,142 shares traded.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TEN shares. Zacks Research cut Tsakos Energy Navigation from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Jefferies Financial Group reiterated a "hold" rating and issued a $22.00 target price on shares of Tsakos Energy Navigation in a report on Wednesday, September 10th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $31.00.

Tsakos Energy Navigation Stock Performance

The firm has a 50 day simple moving average of $21.44 and a two-hundred day simple moving average of $19.08. The firm has a market capitalization of $672.59 million, a P/E ratio of 7.97 and a beta of -0.13.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last issued its quarterly earnings data on Wednesday, September 10th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.08. Tsakos Energy Navigation had a return on equity of 18.25% and a net margin of 14.17%.The business had revenue of $161.39 million for the quarter, compared to analysts' expectations of $163.62 million. Sell-side analysts anticipate that Tsakos Energy Navigation Ltd will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Tsakos Energy Navigation

Hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. boosted its stake in Tsakos Energy Navigation by 9.6% in the second quarter. Osaic Holdings Inc. now owns 7,821 shares of the company's stock worth $150,000 after buying an additional 684 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Tsakos Energy Navigation by 312.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company's stock worth $25,000 after buying an additional 993 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Tsakos Energy Navigation by 1.0% in the first quarter. Moors & Cabot Inc. now owns 104,285 shares of the company's stock worth $1,779,000 after buying an additional 1,000 shares in the last quarter. Tidal Investments LLC boosted its stake in Tsakos Energy Navigation by 13.2% in the second quarter. Tidal Investments LLC now owns 12,733 shares of the company's stock worth $244,000 after buying an additional 1,482 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Tsakos Energy Navigation in the second quarter worth approximately $58,000. 19.24% of the stock is currently owned by institutional investors.

About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd. engages in the provision of seaborne crude oil and petroleum product transportation services. Its activities include the operation of crude tankers, product tankers, and liquefied natural gas carriers. The company was founded by Nikolas P. Tsakos and Michael Gordon Jolliffee in July 1993 and is headquartered in Athens, Greece.

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