Tsakos Energy Navigation (NYSE:TEN) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Tsakos Energy Navigation's stock price recently surpassed its 200-day moving average, indicating potential upward momentum, with the stock last traded at $22.40.
• Analysts have a mixed outlook on the stock, with a consensus rating of "Hold" and varying target prices, including a high of $31.00.
• The company reported $0.67 earnings per share for the quarter, exceeding estimates, while its revenue fell slightly short of expectations at $161.39 million.

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 $19.47 and traded as high as $22.68. Tsakos Energy Navigation shares last traded at $22.40, with a volume of 243,778 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Tsakos Energy Navigation in a research note on Tuesday. 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. Finally, 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. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $31.00.

Tsakos Energy Navigation Price Performance

The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $674.96 million, a price-to-earnings ratio of 8.00 and a beta of -0.13. The stock's 50 day moving average price is $21.82 and its two-hundred day moving average price is $19.47.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last posted its quarterly earnings results on Wednesday, September 10th. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.08. Tsakos Energy Navigation had a net margin of 14.17% and a return on equity of 12.03%. The business had revenue of $161.39 million for the quarter, compared to the consensus estimate of $163.62 million. Analysts anticipate that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Tsakos Energy Navigation

A number of large investors have recently bought and sold shares of the business. Foundation Resource Management Inc. boosted its holdings in Tsakos Energy Navigation by 0.7% in the third quarter. Foundation Resource Management Inc. now owns 352,024 shares of the company's stock worth $7,822,000 after purchasing an additional 2,443 shares in the last quarter. Osaic Holdings Inc. boosted its holdings 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 purchasing an additional 684 shares in the last quarter. Tidal Investments LLC boosted its holdings 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 purchasing an additional 1,482 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in Tsakos Energy Navigation by 42.6% in the second quarter. Balyasny Asset Management L.P. now owns 33,606 shares of the company's stock worth $645,000 after purchasing an additional 10,038 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Tsakos Energy Navigation in the second quarter worth $58,000. 19.24% of the stock is currently owned by institutional investors.

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.

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