Tsakos Energy Navigation (NYSE:TEN) Issues Quarterly Earnings Results

Tsakos Energy Navigation (NYSE:TEN) released its earnings results on Thursday. The company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.65, Zacks reports. Tsakos Energy Navigation had a return on equity of 17.26% and a net margin of 20.15%.

Tsakos Energy Navigation Stock Performance

Shares of NYSE:TEN traded up $1.17 during midday trading on Thursday, reaching $45.28. 50,262 shares of the company’s stock traded hands, compared to its average volume of 425,777. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.92 and a current ratio of 0.95. Tsakos Energy Navigation has a one year low of $17.14 and a one year high of $44.83. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 10.16 and a beta of -0.27. The stock has a 50 day moving average of $39.50 and a 200 day moving average of $30.87.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a report 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.50.

Insiders Place Their Bets

In related news, CEO Nikolaos Tsakos bought 12,500 shares of the stock in a transaction on Tuesday, April 28th. The shares were acquired at an average price of $39.92 per share, for a total transaction of $499,000.00. Following the purchase, the chief executive officer owned 906,000 shares of the company’s stock, valued at approximately $36,167,520. The trade was a 1.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in Tsakos Energy Navigation by 312.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after purchasing an additional 993 shares during the last quarter. Barclays PLC purchased a new stake in Tsakos Energy Navigation during the 4th quarter valued at $36,000. Smartleaf Asset Management LLC lifted its holdings in shares of Tsakos Energy Navigation by 186.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock valued at $54,000 after buying an additional 1,585 shares during the period. Summit Securities Group LLC purchased a new position in shares of Tsakos Energy Navigation in the 4th quarter worth $56,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Tsakos Energy Navigation in the second quarter worth $58,000. 19.24% of the stock is owned by hedge funds and other 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.