Tsakos Energy Navigation (NYSE:TEN) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Tsakos Energy Navigation Ltd (NYSE:TEN)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $33.79 and traded as high as $35.81. Tsakos Energy Navigation shares last traded at $35.3190, with a volume of 245,566 shares traded.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Wednesday, April 8th. Wall Street Zen upgraded Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Tsakos Energy Navigation has a consensus rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Stock Down 0.1%

The firm’s fifty day simple moving average is $39.72 and its 200 day simple moving average is $33.89. 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 market cap of $1.12 billion, a price-to-earnings ratio of 6.08 and a beta of -0.28.

Tsakos Energy Navigation (NYSE:TEN) last announced its quarterly earnings data 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. The business had revenue of $223.12 million for the quarter, compared to analyst estimates of $208.77 million. Tsakos Energy Navigation had a net margin of 24.81% and a return on equity of 23.26%.

Tsakos Energy Navigation Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 23rd will be issued a dividend of $1.00 per share. This represents a yield of 515.0%. The ex-dividend date of this dividend is Thursday, July 23rd. Tsakos Energy Navigation’s payout ratio is 32.57%.

Insider Activity

In other Tsakos Energy Navigation news, CEO Nikolaos Tsakos acquired 12,500 shares of the stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average cost of $39.92 per share, with a total value of $499,000.00. Following the transaction, the chief executive officer owned 906,000 shares in the company, valued at $36,167,520. The trade was a 1.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its stake in Tsakos Energy Navigation by 25,093.5% in the first quarter. NewEdge Advisors LLC now owns 11,589 shares of the company’s stock valued at $457,000 after purchasing an additional 11,543 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Tsakos Energy Navigation by 214.4% in the 1st quarter. Bank of America Corp DE now owns 92,833 shares of the company’s stock valued at $3,663,000 after buying an additional 63,304 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Tsakos Energy Navigation by 56.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the company’s stock valued at $81,000 after buying an additional 743 shares during the last quarter. Royal Bank of Canada grew its position in shares of Tsakos Energy Navigation by 638.2% in the 1st quarter. Royal Bank of Canada now owns 2,997 shares of the company’s stock valued at $118,000 after buying an additional 2,591 shares during the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new stake in Tsakos Energy Navigation during the 1st quarter worth $15,688,000. 19.24% of the stock is owned by institutional investors and hedge funds.

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.