Tsakos Energy Navigation Ltd. (TNP) Stock Price Down 2.1%
Tsakos Energy Navigation Ltd. (NYSE:TNP)’s share price dropped 2.1% during trading on Wednesday . The stock traded as low as $4.97 and last traded at $5.03, with a volume of 192,693 shares. The stock had previously closed at $5.14.
TNP has been the subject of several recent research reports. Jefferies Group restated a “buy” rating on shares of Tsakos Energy Navigation in a research report on Tuesday, May 31st. Seaport Global Securities restated a “buy” rating and set a $10.00 price target on shares of Tsakos Energy Navigation in a research report on Wednesday, May 4th. Zacks Investment Research upgraded shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research report on Thursday, June 2nd. Credit Suisse Group AG restated an “outperform” rating on shares of Tsakos Energy Navigation in a research report on Wednesday, June 1st. Finally, Morgan Stanley restated an “overweight” rating and set a $8.00 price target (down previously 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 issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $9.38.
The stock’s 50-day moving average price is $5.05 and its 200 day moving average price is $5.66. The company has a market capitalization of $432.48 million and a PE ratio of 3.30.
Tsakos Energy Navigation (NYSE:TNP) last issued its 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 last year, the business earned $0.42 earnings per share. The firm earned $99.60 million during the quarter, compared to the consensus estimate of $111.56 million. The firm’s revenue for the quarter was down 18.0% compared to the same quarter last year. Equities research analysts forecast that Tsakos Energy Navigation Ltd. will post $0.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 10th. Investors of record on Wednesday, August 3rd were given a $0.08 dividend. The ex-dividend date was Monday, August 1st. This represents a $0.32 annualized dividend and a yield of 6.37%.
A hedge fund recently raised its stake 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 Form 13F 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 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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