Tsakos Energy Navigation (NYSE:TEN) Stock Price Up 3.8% – Still a Buy?

Tsakos Energy Navigation Ltd (NYSE:TEN)’s stock price rose 3.8% during trading on Thursday. The company traded as high as $52.23 and last traded at $51.69. 48,131 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 378,902 shares. The stock had previously closed at $49.79.

Analyst Ratings Changes

TEN has been the subject of several analyst reports. Wall Street Zen raised Tsakos Energy Navigation from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Friday, October 2nd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Price Performance

The company has a market cap of $1.55 billion, a PE ratio of 5.21 and a beta of -0.10. The company has a quick ratio of 1.35, a current ratio of 1.40 and a debt-to-equity ratio of 0.91. The stock has a 50-day simple moving average of $44.89 and a 200 day simple moving average of $41.32.

Tsakos Energy Navigation (NYSE:TEN) last issued its quarterly earnings data on Thursday, September 10th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.21. The firm had revenue of $246.28 million for the quarter, compared to analyst estimates of $238.87 million. Tsakos Energy Navigation had a net margin of 33.81% and a return on equity of 29.44%.

Insider Buying and Selling

In related news, Director Clio Hatzimichalis sold 5,000 shares of Tsakos Energy Navigation stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $41.07, for a total value of $205,350.00. Following the completion of the sale, the director owned 5,000 shares in the company, valued at approximately $205,350. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Theoharrys Kosmatos sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $53.00, for a total value of $530,000.00. Following the completion of the sale, the chief financial officer directly owned 14,700 shares in the company, valued at approximately $779,100. The trade was a 40.49% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.41% of the company’s stock.

Institutional Trading of Tsakos Energy Navigation

Several hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in shares of Tsakos Energy Navigation by 56.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the company’s stock worth $81,000 after acquiring an additional 743 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Tsakos Energy Navigation by 638.2% in the first quarter. Royal Bank of Canada now owns 2,997 shares of the company’s stock valued at $118,000 after acquiring an additional 2,591 shares in the last quarter. R Squared Ltd purchased a new position in Tsakos Energy Navigation in the first quarter valued at $231,000. Drucker Wealth 3.0 LLC acquired a new position in Tsakos Energy Navigation during the 1st quarter worth $235,000. Finally, Entropy Technologies LP purchased a new stake in Tsakos Energy Navigation during the 1st quarter worth about $240,000. Institutional investors and hedge funds own 19.24% of the company’s stock.

About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd. is an international marine transportation company focused primarily on the ownership and operation of crude oil and refined petroleum product tankers. Its fleet has historically included a range of vessels serving the global energy industry, including Aframax, Suezmax and other tanker classes, as well as specialized vessels such as shuttle tankers.

The company transports crude oil, petroleum products and other energy-related cargoes for major oil companies, refiners, trading firms and government-affiliated organizations.