Tsakos Energy Navigation (NYSE:TEN) Trading Up 5.7% on Better-Than-Expected Earnings

Tsakos Energy Navigation Ltd (NYSE:TEN) was up 5.7% during mid-day trading on Monday following a stronger than expected earnings report. The company traded as high as $36.76 and last traded at $36.7450. Approximately 232,573 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 400,303 shares. The stock had previously closed at $34.75.

The company reported $1.70 EPS for the quarter, beating the consensus estimate of $0.77 by $0.93. The firm had revenue of $182.96 million for the quarter, compared to analyst estimates of $162.84 million. Tsakos Energy Navigation had a return on equity of 26.29% and a net margin of 20.15%.

Analyst Ratings Changes

TEN has been the subject of a number of recent research reports. Clarkson Capital began coverage on shares of Tsakos Energy Navigation in a report on Monday, December 15th. They issued a “buy” rating and a $35.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Friday, January 9th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $24.00 price target on shares of Tsakos Energy Navigation in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $29.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new stake in Tsakos Energy Navigation during the 2nd quarter valued at $672,000. Hsbc Holdings PLC increased its position in shares of Tsakos Energy Navigation by 91.1% in the second quarter. Hsbc Holdings PLC now owns 29,880 shares of the company’s stock valued at $573,000 after acquiring an additional 14,242 shares during the period. New York State Common Retirement Fund bought a new position in shares of Tsakos Energy Navigation during the second quarter valued at about $761,000. 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 purchasing an additional 993 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Tsakos Energy Navigation in the second quarter worth about $296,000. 19.24% of the stock is owned by hedge funds and other institutional investors.

Tsakos Energy Navigation Stock Performance

The business has a fifty day moving average of $28.01 and a 200-day moving average of $24.83. The company has a market cap of $1.12 billion, a PE ratio of 8.33 and a beta of -0.27. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90.

Tsakos Energy Navigation Company Profile

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.