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

Key Points

• Tsakos Energy Navigation's stock price has surpassed its 200-day moving average of $18.47, trading at $22.31 with high trading volume recently.
• Brokerages have downgraded the stock's rating from a "strong-buy" to a "hold," with an average target price of $31.00 despite a current rating of "Moderate Buy."
• The company recently reported a quarterly earnings per share (EPS) of $0.67, exceeding analyst estimates and showcasing a strong net margin of 14.17%.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.47 and traded as high as $22.61. Tsakos Energy Navigation shares last traded at $22.31, with a volume of 536,779 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Jefferies Financial Group reissued a "hold" rating and set a $22.00 target price on shares of Tsakos Energy Navigation in a research note on Wednesday, September 10th. Zacks Research downgraded shares of Tsakos Energy Navigation from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

Tsakos Energy Navigation Price Performance

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.11 and a quick ratio of 1.06. The stock has a market capitalization of $699.11 million, a P/E ratio of 8.29 and a beta of -0.07. The company's 50 day simple moving average is $20.85 and its two-hundred day simple moving average is $18.67.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Moors & Cabot Inc. boosted its holdings in shares of Tsakos Energy Navigation by 1.0% during the 1st 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 during the period. Hsbc Holdings PLC acquired a new position in Tsakos Energy Navigation in the 1st quarter valued at approximately $267,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Tsakos Energy Navigation during the second quarter worth $384,000. JPMorgan Chase & Co. acquired a new stake in shares of Tsakos Energy Navigation during the second quarter worth $672,000. Finally, New York State Common Retirement Fund acquired a new stake in Tsakos Energy Navigation in the second quarter worth $761,000. Institutional investors own 19.24% of the company's stock.

Tsakos Energy Navigation Company Profile

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.