Tsakos Energy Navigation (NYSE:TEN) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Tsakos Energy Navigation's stock price recently rose above its 200-day moving average, reaching a high of $20.69, while currently trading at $19.97.
• The company's latest earnings report showed a significant earnings per share (EPS) of $0.92, surpassing analyst expectations of $0.29.
• A recent downgrade from Wall Street Zen shifted their rating on the stock from "hold" to "sell," while Jefferies Financial Group raised its target price to $21.00 with a "hold" rating.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.97 and traded as high as $20.69. Tsakos Energy Navigation shares last traded at $19.97, with a volume of 342,259 shares.

Analysts Set New Price Targets

Several research firms have weighed in on TEN. Jefferies Financial Group upped their target price on Tsakos Energy Navigation from $18.00 to $21.00 and gave the stock a "hold" rating in a research note on Tuesday, June 17th. Wall Street Zen cut Tsakos Energy Navigation from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $30.50.

Tsakos Energy Navigation Stock Performance

The firm has a market capitalization of $640.11 million, a P/E ratio of 4.73 and a beta of -0.09. The company has a current ratio of 1.11, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $20.04 and a 200-day moving average of $18.01.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last announced its earnings results on Tuesday, June 17th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.63. Tsakos Energy Navigation had a return on equity of 14.17% and a net margin of 20.00%.The business had revenue of $153.51 million during the quarter, compared to analyst estimates of $154.01 million. During the same period last year, the company earned $1.05 EPS. On average, equities analysts anticipate that Tsakos Energy Navigation Ltd will post 3.44 earnings per share for the current fiscal year.

Tsakos Energy Navigation Dividend Announcement

The firm also recently declared a semi-annual dividend, which was paid on Friday, July 18th. Shareholders of record on Monday, July 14th were issued a dividend of $0.60 per share. This represents a yield of 570.0%. The ex-dividend date was Monday, July 14th. Tsakos Energy Navigation's dividend payout ratio (DPR) is presently 26.73%.

Institutional Trading of Tsakos Energy Navigation

Several large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Tsakos Energy Navigation by 602.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company's stock valued at $15,917,000 after buying an additional 711,313 shares during the period. Pale Fire Capital SE lifted its position in shares of Tsakos Energy Navigation by 2.1% during the 2nd quarter. Pale Fire Capital SE now owns 360,433 shares of the company's stock worth $6,917,000 after buying an additional 7,376 shares in the last quarter. Jump Financial LLC raised its holdings in shares of Tsakos Energy Navigation by 693.1% in the 2nd quarter. Jump Financial LLC now owns 124,223 shares of the company's stock worth $2,384,000 after purchasing an additional 108,561 shares during the period. Moors & Cabot Inc. raised its holdings in shares of Tsakos Energy Navigation by 1.0% in the 1st quarter. Moors & Cabot Inc. now owns 104,285 shares of the company's stock worth $1,779,000 after purchasing an additional 1,000 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in shares of Tsakos Energy Navigation in the 2nd quarter worth approximately $761,000. 19.24% of the stock is currently owned by institutional investors and hedge funds.

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.