Tsakos Energy Navigation Ltd. (TNP) Shares Gap Up to $5.35
Tsakos Energy Navigation Ltd. (NYSE:TNP) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.29, but opened at $5.35. Tsakos Energy Navigation shares last traded at $5.39, with a volume of 392,029 shares changing hands.
A number of analysts have issued reports on TNP shares. JPMorgan Chase & Co. cut their target price on Tsakos Energy Navigation from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, April 7th. Seaport Global Securities reissued a “buy” rating and issued a $10.00 target price on shares of Tsakos Energy Navigation in a research report on Wednesday, May 4th. Zacks Investment Research lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 25th. Morgan Stanley reissued an “overweight” rating and issued a $8.00 target price (down previously from $8.50) on shares of Tsakos Energy Navigation in a research report on Wednesday, June 1st. Finally, Credit Suisse Group AG reissued an “outperform” rating on shares of Tsakos Energy Navigation in a research report on Wednesday, June 1st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Tsakos Energy Navigation has an average rating of “Buy” and an average price target of $9.71.
The company has a market cap of $460.91 million and a price-to-earnings ratio of 3.52. The firm has a 50 day moving average price of $5.30 and a 200-day moving average price of $5.84.
Tsakos Energy Navigation (NYSE:TNP) last released its earnings results on Tuesday, May 31st. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $99.60 million for the quarter, compared to analyst estimates of $111.56 million. During the same period in the prior year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was down 18.0% on a year-over-year basis. On average, equities research analysts forecast that Tsakos Energy Navigation Ltd. will post $1.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Wednesday, August 3rd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.98%.
Other large investors have recently added to or reduced their stakes in the company. Afam Capital Inc. raised its stake in Tsakos Energy Navigation by 5.7% in the fourth quarter. Afam Capital Inc. now owns 200,972 shares of the company’s stock worth $1,592,000 after buying an additional 10,922 shares in the last quarter. Trilogy Global Advisors LP raised its stake in Tsakos Energy Navigation by 12.9% in the fourth quarter. Trilogy Global Advisors LP now owns 293,047 shares of the company’s stock worth $2,321,000 after buying an additional 33,592 shares in the last quarter. Russell Frank Co raised its stake in Tsakos Energy Navigation by 9.9% in the fourth quarter. Russell Frank Co now owns 733,689 shares of the company’s stock worth $5,510,000 after buying an additional 66,226 shares in the last quarter. Finally, Systematic Financial Management LP raised its stake in Tsakos Energy Navigation by 16.8% in the fourth quarter. Systematic Financial Management LP now owns 1,238,470 shares of the company’s stock worth $9,808,000 after buying an additional 178,540 shares in the last quarter.
Tsakos Energy Navigation Limited is a provider of international seaborne crude oil and petroleum product transportation services. As of April 8, 2015, the Company operated a fleet of 47 modern crude oil and petroleum product tankers that provide marine transportation services for national and other independent oil companies and refiners under long, medium and short-term charters.
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