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

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN) passed 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

A number of brokerages have recently weighed in on TEN. Zacks Research cut Tsakos Energy Navigation from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Jefferies Financial Group restated a “hold” rating and set a $22.00 target price on shares of Tsakos Energy Navigation in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Tsakos Energy Navigation Trading Up 1.9%

The company has a quick ratio of 1.06, a current ratio of 1.11 and a debt-to-equity ratio of 0.85. The firm has a market cap of $672.11 million, a price-to-earnings ratio of 7.97 and a beta of -0.07. The business has a 50 day moving average of $20.63 and a 200 day moving average of $18.47.

Tsakos Energy Navigation (NYSE:TEN) last issued its quarterly earnings results on Wednesday, September 10th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.08. The business had revenue of $161.39 million during the quarter, compared to the consensus estimate of $163.62 million. Tsakos Energy Navigation had a net margin of 14.17% and a return on equity of 18.25%. On average, research analysts forecast that Tsakos Energy Navigation Ltd will post 3.44 earnings per share for the current fiscal year.

Tsakos Energy Navigation Announces Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, July 18th. Stockholders of record on Monday, July 14th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, July 14th. This represents a dividend yield of 570.0%. Tsakos Energy Navigation’s payout ratio is 42.86%.

Hedge Funds Weigh In On Tsakos Energy Navigation

Several institutional investors have recently added to or reduced their stakes in TEN. Moors & Cabot Inc. increased 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 valued at $1,779,000 after purchasing an additional 1,000 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Tsakos Energy Navigation during the first quarter worth approximately $267,000. Counterpoint Mutual Funds LLC acquired a new position in Tsakos Energy Navigation during the second quarter worth approximately $384,000. JPMorgan Chase & Co. acquired a new position in Tsakos Energy Navigation during the second quarter worth approximately $672,000. Finally, New York State Common Retirement Fund acquired a new position in Tsakos Energy Navigation during the second quarter worth approximately $761,000. 19.24% of the stock is currently owned by institutional investors and hedge funds.

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.