Tsakos Energy Navigation (NYSE:TEN) Sets New 1-Year High – Still a Buy?

Tsakos Energy Navigation Ltd (NYSE:TEN)’s share price reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $54.36 and last traded at $54.24, with a volume of 384,621 shares traded. The stock had previously closed at $51.40.

Analyst Ratings Changes

Several brokerages have recently issued reports on TEN. Wall Street Zen raised shares of Tsakos Energy Navigation from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Friday, October 2nd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Stock Down 5.5%

The stock has a market cap of $1.61 billion, a P/E ratio of 5.46 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 firm has a 50 day simple moving average of $45.54 and a 200-day simple moving average of $41.58.

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

Insiders Place Their Bets

In related news, Director Clio Hatzimichalis sold 5,000 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $41.07, for a total transaction of $205,350.00. Following the completion of the sale, the director directly owned 5,000 shares in the company, valued at $205,350. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Theoharrys Kosmatos sold 10,000 shares of the stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $53.00, for a total transaction of $530,000.00. Following the completion of the transaction, the chief financial officer directly owned 14,700 shares of the company’s stock, valued at approximately $779,100. The trade was a 40.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its holdings in Tsakos Energy Navigation by 22.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 813,845 shares of the company’s stock worth $32,114,000 after acquiring an additional 151,195 shares during the period. Renaissance Technologies LLC lifted its position in shares of Tsakos Energy Navigation by 15.2% during 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. Cooper Creek Partners Management LLC bought a new stake in Tsakos Energy Navigation in the first quarter valued at $15,688,000. Walleye Capital LLC raised its holdings in shares of 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 purchasing an additional 248,345 shares during the period. Finally, Main Street Financial Solutions LLC increased its position in Tsakos Energy Navigation by 0.6% in the 4th quarter. Main Street Financial Solutions LLC now owns 396,909 shares of the company’s stock valued at $8,899,000 after buying an additional 2,445 shares in the last quarter. 19.24% of the stock is owned by institutional investors.

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.