Tsakos Energy Navigation Ltd. (TNP) Stock Price Down 5.1%
Tsakos Energy Navigation Ltd. (NYSE:TNP) dropped 5.1% during trading on Monday . The company traded as low as $4.86 and last traded at $4.86, with a volume of 305,153 shares. The stock had previously closed at $5.12.
TNP has been the topic of a number of recent research reports. 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 note on Thursday, April 7th. Jefferies Group reaffirmed a “buy” rating and set a $9.00 price objective on shares of Tsakos Energy Navigation in a research report on Wednesday, July 6th. Credit Suisse Group AG reaffirmed an “outperform” rating on shares of Tsakos Energy Navigation in a research report on Wednesday, June 1st. Zacks Investment Research cut Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a research report on Saturday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $8.00 price objective (down from $8.50) on shares of Tsakos Energy Navigation in a research report on Wednesday, June 1st. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $9.38.
The firm’s 50-day moving average price is $5.12 and its 200-day moving average price is $5.76. The stock has a market cap of $418.69 million and a P/E ratio of 3.20.
Tsakos Energy Navigation (NYSE:TNP) last issued its earnings results on Tuesday, May 31st. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. During the same period last year, the firm earned $0.42 earnings per share. The firm had revenue of $99.60 million for the quarter, compared to the consensus estimate of $111.56 million. The company’s revenue for the quarter was down 18.0% on a year-over-year basis. On average, analysts forecast that Tsakos Energy Navigation Ltd. will post $0.98 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Wednesday, August 3rd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend is Monday, August 1st.
An institutional investor recently raised its position in Tsakos Energy Navigation stock. Systematic Financial Management LP increased its stake in Tsakos Energy Navigation Ltd. (NYSE:TNP) by 16.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,238,470 shares of the company’s stock after buying an additional 178,540 shares during the period. Systematic Financial Management LP owned about 1.42% of Tsakos Energy Navigation worth $9,808,000 at the end of the most recent 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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