Tsakos Energy Navigation (NYSE:TEN) Shares Pass Above 200 Day Moving Average – What’s Next?

Tsakos Energy Navigation Ltd (NYSE:TEN)’s stock price 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 trading hands.

Analyst Ratings Changes

TEN has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Monday, July 6th. Wall Street Zen raised shares of Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. One equities research 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 price target of $29.50.

Tsakos Energy Navigation Trading Down 0.3%

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.92. The stock has a market cap of $1.18 billion, a P/E ratio of 6.40 and a beta of -0.28. The firm’s fifty day moving average price is $38.92 and its two-hundred day moving average price is $35.64.

Tsakos Energy Navigation (NYSE:TEN) last announced its earnings results on Thursday, May 21st. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.65. The company had revenue of $223.12 million during 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 Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 23rd will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a yield of 507.0%. Tsakos Energy Navigation’s dividend payout ratio is presently 16.29%.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Tsakos Energy Navigation by 602.2% during 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 buying an additional 711,313 shares during the period. Cooper Creek Partners Management LLC bought a new stake in shares of Tsakos Energy Navigation in the first quarter worth $15,688,000. Walleye Capital LLC increased its position in Tsakos Energy Navigation by 654.1% during the first quarter. Walleye Capital LLC now owns 286,314 shares of the company’s stock valued at $11,298,000 after acquiring an additional 248,345 shares during the last quarter. Millennium Management LLC increased its position in Tsakos Energy Navigation by 347.1% during the third quarter. Millennium Management LLC now owns 287,149 shares of the company’s stock valued at $6,380,000 after acquiring an additional 222,931 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Tsakos Energy Navigation by 22.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company’s stock worth $32,114,000 after purchasing an additional 151,195 shares during the last quarter. Hedge funds and other institutional investors own 19.24% of the company’s stock.

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.