Tsakos Energy Navigation (NYSE:TEN) Shares Up 3.8% – Should You Buy?

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TEN shares. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Friday, October 2nd. Wall Street Zen upgraded shares of Tsakos Energy Navigation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 19th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Trading Up 3.7%

The stock has a market capitalization of $1.56 billion, a PE ratio of 5.23 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 business’s 50-day moving average is $44.41 and its two-hundred day moving average is $41.14.

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, topping the consensus estimate of $2.93 by $0.21. Tsakos Energy Navigation had a return on equity of 29.44% and a net margin of 33.81%.The company had revenue of $246.28 million for the quarter, compared to analyst estimates of $238.87 million.

Insider Buying and Selling

In other news, CFO Theoharrys Kosmatos sold 10,000 shares of the stock in a transaction that occurred on Friday, September 18th. The stock was 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 of the company’s stock, valued at approximately $779,100. This represents a 40.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Clio Hatzimichalis sold 5,000 shares of the 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 directly owned 5,000 shares of the company’s stock, valued at $205,350. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.41% of the company’s stock.

Institutional Trading of Tsakos Energy Navigation

Several institutional investors and hedge funds have recently bought and sold shares of TEN. Sagil Capital LLP boosted its stake in Tsakos Energy Navigation by 13.7% during the 4th quarter. Sagil Capital LLP now owns 861,366 shares of the company’s stock worth $19,312,000 after purchasing an additional 103,801 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Tsakos Energy Navigation by 22.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company’s stock valued at $32,114,000 after buying an additional 151,195 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Tsakos Energy Navigation by 15.2% during the first quarter. Renaissance Technologies LLC now owns 466,225 shares of the company’s stock worth $18,397,000 after buying an additional 61,428 shares during the period. Cooper Creek Partners Management LLC acquired a new stake in shares of Tsakos Energy Navigation during the first quarter worth about $15,688,000. Finally, Main Street Financial Solutions LLC grew its holdings in shares of Tsakos Energy Navigation by 0.6% during the fourth quarter. Main Street Financial Solutions LLC now owns 396,909 shares of the company’s stock worth $8,899,000 after buying an additional 2,445 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. 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.