Tsakos Energy Navigation (NYSE:TNP – Get Rating) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
Other research analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Tsakos Energy Navigation in a report on Monday, April 18th. Jefferies Financial Group assumed coverage on shares of Tsakos Energy Navigation in a report on Wednesday, April 27th. They issued a “buy” rating and a $15.00 target price for the company.
TNP traded up $0.59 during trading hours on Friday, hitting $9.56. 161,301 shares of the company’s stock were exchanged, compared to its average volume of 231,435. Tsakos Energy Navigation has a 12-month low of $6.75 and a 12-month high of $13.90. The firm has a 50 day moving average of $10.81 and a 200 day moving average of $9.28. The firm has a market cap of $173.95 million, a P/E ratio of -1.06 and a beta of -0.17. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 0.94.
Tsakos Energy Navigation (NYSE:TNP – Get Rating) last announced its earnings results on Thursday, June 30th. The shipping company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.09. Tsakos Energy Navigation had a negative net margin of 27.72% and a negative return on equity of 4.50%. During the same quarter in the prior year, the company posted ($0.80) EPS. As a group, research analysts expect that Tsakos Energy Navigation will post 2.45 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Foundation Resource Management Inc. increased its holdings in shares of Tsakos Energy Navigation by 8.3% in the 1st quarter. Foundation Resource Management Inc. Now owns 304,569 shares of the shipping company’s stock valued at $2,677,000 after purchasing an additional 23,395 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Tsakos Energy Navigation by 7.8% in the 1st quarter. Renaissance Technologies LLC now owns 189,278 shares of the shipping company’s stock valued at $1,664,000 after purchasing an additional 13,698 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Tsakos Energy Navigation in the 4th quarter valued at about $664,000. Invesco Ltd. increased its holdings in shares of Tsakos Energy Navigation by 110.5% in the 1st quarter. Invesco Ltd. Now owns 74,887 shares of the shipping company’s stock valued at $658,000 after purchasing an additional 39,309 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Tsakos Energy Navigation in the 3rd quarter valued at about $385,000. Institutional investors own 32.50% of the company’s stock.
Tsakos Energy Navigation Company Profile (Get Rating)
Tsakos Energy Navigation Limited seaborne crude oil and petroleum product provides transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. As of April 21, 2022, it operates a fleet of 66 double-hull vessels, comprising of 60 conventional tankers, three LNG carriers, and three suezmax DP2 shuttle tankers.
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