Tsakos Energy Navigation (NYSE:TEN) Sets New 52-Week High – Here’s Why

Tsakos Energy Navigation Ltd (NYSE:TENGet Free Report)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $44.59 and last traded at $44.30, with a volume of 80811 shares. The stock had previously closed at $42.92.

Analysts Set New Price Targets

A number of brokerages recently commented on TEN. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Wednesday, April 8th. Wall Street Zen upgraded shares of Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.50.

Check Out Our Latest Analysis on TEN

Tsakos Energy Navigation Stock Performance

The business has a 50-day moving average price of $39.36 and a 200-day moving average price of $30.73. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 9.95 and a beta of -0.27. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.87.

Tsakos Energy Navigation (NYSE:TENGet Free Report) last issued its quarterly earnings results on Friday, March 6th. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.93. The business had revenue of $182.96 million for the quarter, compared to the consensus estimate of $162.84 million. Tsakos Energy Navigation had a return on equity of 17.26% and a net margin of 20.15%.

Insider Activity

In other Tsakos Energy Navigation news, CEO Nikolaos Tsakos purchased 12,500 shares of Tsakos Energy Navigation stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average cost of $39.92 per share, with a total value of $499,000.00. Following the completion of the transaction, the chief executive officer owned 906,000 shares in the company, valued at approximately $36,167,520. This trade represents a 1.40% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Tsakos Energy Navigation

Several hedge funds have recently made changes to their positions in the company. Sagil Capital LLP increased its position in shares of Tsakos Energy Navigation by 13.7% in the 4th quarter. Sagil Capital LLP now owns 861,366 shares of the company’s stock valued at $19,312,000 after acquiring an additional 103,801 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Tsakos Energy Navigation by 602.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company’s stock valued at $15,917,000 after acquiring an additional 711,313 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Tsakos Energy Navigation by 22.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company’s stock valued at $32,114,000 after acquiring an additional 151,195 shares during the period. Renaissance Technologies LLC increased its position in shares of Tsakos Energy Navigation by 15.2% in the 1st quarter. Renaissance Technologies LLC now owns 466,225 shares of the company’s stock valued at $18,397,000 after acquiring an additional 61,428 shares during the period. Finally, Cooper Creek Partners Management LLC acquired a new position in shares of Tsakos Energy Navigation in the 1st quarter valued at $15,688,000. 19.24% of the stock is owned by institutional investors and hedge funds.

About Tsakos Energy Navigation

(Get Free Report)

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.

Further Reading

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