Tsakos Energy Navigation Ltd. (TNP) Shares Down 5.1%
Shares of Tsakos Energy Navigation Ltd. (NYSE:TNP) were down 5.1% on Monday . The stock 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.
Several analysts have weighed in on TNP shares. Jefferies Group reiterated a “buy” rating on shares of Tsakos Energy Navigation in a research note on Tuesday, May 31st. Seaport Global Securities reiterated a “buy” rating and issued a $10.00 price objective on shares of Tsakos Energy Navigation in a research note on Wednesday, May 4th. JPMorgan Chase & Co. dropped their price objective on shares of Tsakos Energy Navigation from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, April 7th. Zacks Investment Research upgraded shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research note on Thursday, June 2nd. Finally, Credit Suisse Group AG reiterated an “outperform” rating on shares of Tsakos Energy Navigation in a research note on Wednesday, June 1st. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Tsakos Energy Navigation has an average rating of “Buy” and an average target price of $9.38.
The company has a market cap of $408.79 million and a P/E ratio of 3.124. The stock’s 50 day moving average is $5.09 and its 200 day moving average is $5.76.
Tsakos Energy Navigation (NYSE:TNP) last posted its quarterly earnings results on Tuesday, May 31st. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The company had revenue of $99.60 million for the quarter, compared to the consensus estimate of $111.56 million. Tsakos Energy Navigation’s quarterly revenue was down 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. On average, equities research analysts anticipate that Tsakos Energy Navigation Ltd. will post $0.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Investors of record on Wednesday, August 3rd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 1st. This represents a $0.32 annualized dividend and a yield of 6.90%.
An institutional investor recently raised its position in Tsakos Energy Navigation stock. Systematic Financial Management LP increased its stake in shares of 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 institutional investor 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 approximately 1.42% of Tsakos Energy Navigation worth $9,808,000 as of its most recent SEC filing.
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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