Tsakos Energy Navigation Ltd. (TNP) Stock Price Down 2.2%
Tsakos Energy Navigation Ltd. (NYSE:TNP) fell 2.2% during mid-day trading on Friday . The stock traded as low as $5.23 and last traded at $5.26, with a volume of 272,830 shares. The stock had previously closed at $5.38.
Several research firms recently issued reports on TNP. Zacks Investment Research upgraded Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a report 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 report on Wednesday, May 4th. Credit Suisse Group AG restated an “outperform” rating on shares of Tsakos Energy Navigation in a 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 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 report on Wednesday, June 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $9.71.
The company’s 50 day moving average is $5.30 and its 200-day moving average is $5.84. The stock has a market cap of $460.91 million and a PE ratio of 3.52.
Tsakos Energy Navigation (NYSE:TNP) last posted its quarterly earnings results on Tuesday, May 31st. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $99.60 million for the quarter, compared to analysts’ expectations of $111.56 million. The company’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 earnings per share. On average, equities research analysts forecast that Tsakos Energy Navigation Ltd. will post $1.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Investors of record on Wednesday, August 3rd will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, August 1st. This represents a $0.32 annualized dividend and a yield of 5.98%.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Afam Capital Inc. boosted its position in Tsakos Energy Navigation by 5.7% in the fourth quarter. Afam Capital Inc. now owns 200,972 shares of the company’s stock valued at $1,592,000 after buying an additional 10,922 shares in the last quarter. Systematic Financial Management LP boosted its position in shares of Tsakos Energy Navigation by 16.8% in the fourth quarter. Systematic Financial Management LP now owns 1,238,470 shares of the company’s stock worth $9,808,000 after buying an additional 178,540 shares during the period. Russell Frank Co boosted its position in shares of Tsakos Energy Navigation by 9.9% in the fourth quarter. Russell Frank Co now owns 733,689 shares of the company’s stock worth $5,510,000 after buying an additional 66,226 shares during the period. Finally, Trilogy Global Advisors LP boosted its position in shares of Tsakos Energy Navigation by 12.9% in the fourth quarter. Trilogy Global Advisors LP now owns 293,047 shares of the company’s stock worth $2,321,000 after buying an additional 33,592 shares during the 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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