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

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

The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.93. Tsakos Energy Navigation had a return on equity of 26.29% and a net margin of 20.15%.The business had revenue of $182.96 million for the quarter, compared to analysts’ expectations of $162.84 million.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TEN. XTX Topco Ltd grew its stake in shares of Tsakos Energy Navigation by 55.0% during the 4th quarter. XTX Topco Ltd now owns 33,097 shares of the company’s stock valued at $742,000 after purchasing an additional 11,740 shares during the period. Susquehanna Portfolio Strategies LLC lifted its stake in shares of Tsakos Energy Navigation by 16.8% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 63,497 shares of the company’s stock worth $1,424,000 after purchasing an additional 9,131 shares during the period. Tudor Investment Corp ET AL lifted its stake in shares of Tsakos Energy Navigation by 1.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 78,555 shares of the company’s stock worth $1,761,000 after purchasing an additional 1,445 shares during the period. Summit Securities Group LLC purchased a new position in shares of Tsakos Energy Navigation in the fourth quarter worth approximately $56,000. Finally, Main Street Financial Solutions LLC grew its position in 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 valued at $8,899,000 after buying an additional 2,445 shares during the period. Institutional investors own 19.24% of the company’s stock.

Tsakos Energy Navigation Price Performance

The company has a market capitalization of $1.11 billion, a P/E ratio of 8.24 and a beta of -0.27. 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 firm’s 50-day moving average is $27.71 and its 200-day moving average is $24.72.

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.