Tsakos Energy Navigation Ltd. (TNP) Shares Down 2.1%
Tsakos Energy Navigation Ltd. (NYSE:TNP)’s share price traded down 2.1% during mid-day trading on Wednesday . The stock traded as low as $4.97 and last traded at $5.03, with a volume of 192,693 shares changing hands. The stock had previously closed at $5.14.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research note on Thursday, June 2nd. Seaport Global Securities restated a “buy” rating and set a $10.00 target price on shares of Tsakos Energy Navigation in a research report on Wednesday, May 4th. Credit Suisse Group AG restated an “outperform” rating on shares of Tsakos Energy Navigation in a research report on Wednesday, June 1st. Jefferies Group restated a “buy” rating and set a $9.00 target price on shares of Tsakos Energy Navigation in a research report on Wednesday, July 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $8.00 target price (down from $8.50) on shares of Tsakos Energy Navigation in a research report on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Tsakos Energy Navigation currently has a consensus rating of “Buy” and an average price target of $9.38.
The firm has a market cap of $428.17 million and a price-to-earnings ratio of 3.27. The company has a 50 day moving average of $5.04 and a 200-day moving average of $5.67.
Tsakos Energy Navigation (NYSE:TNP) last announced its quarterly earnings data on Tuesday, May 31st. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. During the same quarter last year, the business 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 business’s revenue for the quarter was down 18.0% compared to the same quarter last year. Equities research analysts anticipate that Tsakos Energy Navigation Ltd. will post $0.98 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 10th. Investors of record on Wednesday, August 3rd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 6.44%. The ex-dividend date of this dividend was Monday, August 1st.
An institutional investor recently raised its position in Tsakos Energy Navigation stock. RS Investment Management Co. LLC boosted its stake in Tsakos Energy Navigation Ltd. (NYSE:TNP) by 53.1% during the fourth quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.
Tsakos Energy Navigation Limited is a provider of international seaborne crude oil and petroleum product transportation services. The Company operates through maritime transportation of liquid energy related products segment. It operates a fleet of approximately 50 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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