Tsakos Energy Navigation (NYSE:TEN) Reaches New 52-Week High – Here’s What Happened

Tsakos Energy Navigation Ltd (NYSE:TEN)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $31.33 and last traded at $30.92, with a volume of 106 shares. The stock had previously closed at $31.15.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TEN. 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. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Friday, January 9th. Finally, Clarkson Capital initiated 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 assigned a Hold rating to the company. According to MarketBeat, Tsakos Energy Navigation presently has a consensus rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Trading Up 3.2%

The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $988.63 million, a P/E ratio of 10.32 and a beta of -0.21. The business has a 50 day moving average of $25.65 and a 200-day moving average of $23.88.

Institutional Trading of Tsakos Energy Navigation

Several hedge funds and other institutional investors have recently modified their holdings of the company. Moors & Cabot Inc. grew its holdings in shares of Tsakos Energy Navigation by 12.0% during the third quarter. Moors & Cabot Inc. now owns 21,020 shares of the company’s stock worth $467,000 after buying an additional 2,250 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Tsakos Energy Navigation during the 3rd quarter worth approximately $461,000. Walleye Capital LLC bought a new position in shares of Tsakos Energy Navigation during the 2nd quarter worth approximately $296,000. Tidal Investments LLC raised its holdings in shares of Tsakos Energy Navigation by 13.2% in the second quarter. Tidal Investments LLC now owns 12,733 shares of the company’s stock valued at $244,000 after purchasing an additional 1,482 shares during the last quarter. Finally, Nipun Capital L.P. bought a new stake in shares of Tsakos Energy Navigation in the fourth quarter worth $235,000. Institutional investors and hedge funds own 19.24% of the company’s stock.

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.