Tsakos Energy Navigation (NYSE:TEN) Stock Passes Above 200 Day Moving Average – Here’s Why

Tsakos Energy Navigation Ltd (NYSE:TEN) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $35.51 and traded as high as $40.57. Tsakos Energy Navigation shares last traded at $39.4870, with a volume of 314,180 shares traded.

Wall Street Analysts Forecast Growth

TEN has been the subject of a number of analyst reports. Wall Street Zen upgraded Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Monday, July 6th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Tsakos Energy Navigation has a consensus rating of “Hold” and an average price target of $29.50.

Tsakos Energy Navigation Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average price of $38.98 and a 200 day moving average price of $35.51. The company has a market capitalization of $1.19 billion, a P/E ratio of 6.43 and a beta of -0.28.

Tsakos Energy Navigation (NYSE:TEN) last posted its quarterly earnings results on Thursday, May 21st. The company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.65. Tsakos Energy Navigation had a return on equity of 23.26% and a net margin of 24.81%.The business had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $208.77 million.

Tsakos Energy Navigation Announces Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 23rd will be issued a $1.00 dividend. This represents a dividend yield of 506.0%. The ex-dividend date is Thursday, July 23rd. Tsakos Energy Navigation’s payout ratio is currently 16.29%.

Insider Buying and Selling at Tsakos Energy Navigation

In related news, CEO Nikolaos Tsakos bought 12,500 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was bought at an average price of $39.92 per share, for a total transaction of $499,000.00. Following the purchase, the chief executive officer owned 906,000 shares in the company, valued at $36,167,520. This represents a 1.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.41% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Tsakos Energy Navigation by 312.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after acquiring an additional 993 shares during the period. Barclays PLC bought a new position in shares of Tsakos Energy Navigation during the fourth quarter worth approximately $36,000. Smartleaf Asset Management LLC increased its stake in shares of Tsakos Energy Navigation by 186.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock worth $54,000 after purchasing an additional 1,585 shares during the period. Summit Securities Group LLC acquired a new stake in Tsakos Energy Navigation during the 4th quarter worth approximately $56,000. Finally, Raymond James Financial Inc. bought a new stake in Tsakos Energy Navigation in the 2nd quarter valued at $58,000. 19.24% of the stock is owned by institutional investors.

About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd. (NYSE: TEN) is an international shipping company specializing in the transportation of crude oil and refined petroleum products. Founded in 1993 by Nikolas P. Tsakos, the company has built a reputation for operating a modern, well-maintained fleet of double-hull tankers. Tsakos Energy Navigation is organized around both ownership and technical management of vessels, offering chartering, commercial operations and crew services under one umbrella.

The company’s fleet consists primarily of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium-range (MR) and Handy product carriers.