Tsakos Energy Navigation (NYSE:TEN) Stock Price Up 5.7% After Earnings Beat

Tsakos Energy Navigation Ltd (NYSE:TEN) shares traded up 5.7% during mid-day trading on Monday following a stronger than expected earnings report. The company traded as high as $36.76 and last traded at $36.7450. 232,573 shares were traded during mid-day trading, a decline of 42% from the average session volume of 400,303 shares. The stock had previously closed at $34.75.

The company reported $1.70 EPS for the quarter, topping the consensus estimate of $0.77 by $0.93. Tsakos Energy Navigation had a net margin of 20.15% and a return on equity of 26.29%. The business had revenue of $182.96 million during the quarter, compared to analyst estimates of $162.84 million.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Friday, January 9th. Jefferies Financial Group restated a “hold” rating and set a $24.00 target price on shares of Tsakos Energy Navigation in a report on Thursday, November 20th. Finally, Clarkson Capital began coverage on shares of Tsakos Energy Navigation in a research report on Monday, December 15th. They issued a “buy” rating and a $35.00 target price on the stock. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Tsakos Energy Navigation presently has an average rating of “Hold” and an average price target of $29.50.

Institutional Investors Weigh In On Tsakos Energy Navigation

Several hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Tsakos Energy Navigation by 312.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after acquiring an additional 993 shares in the last quarter. Barclays PLC bought a new position in Tsakos Energy Navigation in the 4th quarter worth about $36,000. Smartleaf Asset Management LLC grew its position in 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 purchasing an additional 1,585 shares during the last quarter. Summit Securities Group LLC bought a new stake in Tsakos Energy Navigation during the 4th quarter valued at about $56,000. Finally, Morse Asset Management Inc raised its holdings in Tsakos Energy Navigation by 255.6% in the fourth quarter. Morse Asset Management Inc now owns 2,845 shares of the company’s stock worth $64,000 after buying an additional 2,045 shares during the last quarter. 19.24% of the stock is owned by institutional investors.

Tsakos Energy Navigation Trading Up 5.7%

The firm’s 50 day moving average price is $27.71 and its 200-day moving average price is $24.72. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.30 and a quick ratio of 1.25. The stock has a market cap of $1.11 billion, a P/E ratio of 8.24 and a beta of -0.27.

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.