Tsakos Energy Navigation Ltd. (TNP) Trading Down 2.8%
Tsakos Energy Navigation Ltd. (NYSE:TNP)’s share price traded down 2.8% during mid-day trading on Tuesday . The stock traded as low as $4.81 and last traded at $4.84, with a volume of 254,716 shares changing hands. The stock had previously closed at $4.98.
Several equities analysts recently issued reports on the company. Credit Suisse Group AG restated an “outperform” rating on shares of Tsakos Energy Navigation in a research report on Wednesday, June 1st. Jefferies Group reiterated a “buy” rating on shares of Tsakos Energy Navigation in a research report on Tuesday, May 31st. Zacks Investment Research upgraded Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research report on Thursday, June 2nd. Morgan Stanley reiterated an “overweight” rating and set 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, Seaport Global Securities reiterated a “buy” rating and set a $10.00 target price on shares of Tsakos Energy Navigation in a research report on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Tsakos Energy Navigation has an average rating of “Buy” and a consensus price target of $9.38.
The firm has a 50 day moving average price of $5.04 and a 200-day moving average price of $5.73. The stock has a market cap of $421.28 million and a price-to-earnings ratio of 3.22.
Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings results on Tuesday, May 31st. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. During the same period in the previous year, the business posted $0.42 EPS. The company had revenue of $99.60 million for the quarter, compared to the consensus estimate of $111.56 million. The business’s revenue for the quarter was down 18.0% on a year-over-year basis. On average, equities analysts expect that Tsakos Energy Navigation Ltd. will post $0.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Wednesday, August 3rd will be issued a $0.08 dividend. The ex-dividend date is Monday, August 1st. This represents a $0.32 dividend on an annualized basis and a yield of 6.54%.
A hedge fund recently raised its stake in Tsakos Energy Navigation stock. RS Investment Management Co. LLC raised its position in Tsakos Energy Navigation Ltd. (NYSE:TNP) by 53.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 572,763 shares of the company’s stock after buying an additional 198,735 shares during the period. RS Investment Management Co. LLC owned 0.66% of Tsakos Energy Navigation worth $4,536,000 at the end of the most recent reporting period.
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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