Tsakos Energy Navigation (NYSE:TEN) Reaches New 52-Week High – Still a Buy?

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN) reached 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 trading hands. The stock had previously closed at $42.92.

Wall Street Analyst Weigh In

TEN has been the subject of a number of analyst reports. Wall Street Zen raised Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Wednesday, April 8th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $29.50.

Tsakos Energy Navigation Stock Performance

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 50-day simple moving average of $39.64 and a 200-day simple moving average of $31.01. The stock has a market cap of $1.28 billion, a P/E ratio of 9.53 and a beta of -0.27.

Tsakos Energy Navigation (NYSE:TEN) last released its earnings results on Thursday, May 21st. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.65. Tsakos Energy Navigation had a return on equity of 17.26% and a net margin of 20.15%.The firm had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $208.77 million.

Insider Transactions at Tsakos Energy Navigation

In other news, CEO Nikolaos Tsakos purchased 12,500 shares of Tsakos Energy Navigation stock in a transaction dated Tuesday, April 28th. The shares were bought 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 owned 906,000 shares in the company, valued at approximately $36,167,520. This trade represents a 1.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Tsakos Energy Navigation

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL grew its holdings in shares of Tsakos Energy Navigation by 51.2% during the third quarter. Tudor Investment Corp ET AL now owns 77,110 shares of the company’s stock worth $1,713,000 after purchasing an additional 26,097 shares during the last quarter. FourThought Financial Partners LLC bought a new stake in shares of Tsakos Energy Navigation during the third quarter worth about $328,000. Fox Run Management L.L.C. bought a new stake in shares of Tsakos Energy Navigation during the third quarter worth about $328,000. Marnell Management LLC bought a new stake in shares of Tsakos Energy Navigation during the fourth quarter worth about $762,000. Finally, Sagil Capital LLP lifted its stake in shares of Tsakos Energy Navigation by 13.7% in the fourth quarter. Sagil Capital LLP now owns 861,366 shares of the company’s stock worth $19,312,000 after acquiring an additional 103,801 shares during the period. 19.24% of the stock is currently owned by institutional investors.

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.