Tsakos Energy Navigation (NYSE:TNP) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Tsakos Energy Navigation (NYSE:TNP) from a hold rating to a buy rating in a report published on Saturday morning.

Separately, Jefferies Financial Group reiterated a buy rating and issued a $30.00 price target on shares of Tsakos Energy Navigation in a research note on Wednesday, March 27th.

Tsakos Energy Navigation Trading Up 0.8 %

TNP opened at $25.32 on Friday. The stock has a market capitalization of $747.19 million, a P/E ratio of 2.81 and a beta of -0.14. Tsakos Energy Navigation has a 12 month low of $15.50 and a 12 month high of $27.20. The firm’s fifty day simple moving average is $24.74 and its 200 day simple moving average is $23.02.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in Tsakos Energy Navigation by 89.6% in the 4th quarter. Millennium Management LLC now owns 1,048,370 shares of the shipping company’s stock valued at $17,749,000 after purchasing an additional 495,349 shares during the period. Marshall Wace LLP increased its position in Tsakos Energy Navigation by 10.3% in the 2nd quarter. Marshall Wace LLP now owns 518,534 shares of the shipping company’s stock valued at $9,240,000 after acquiring an additional 48,522 shares during the period. Two Sigma Investments LP increased its position in Tsakos Energy Navigation by 20.6% in the 4th quarter. Two Sigma Investments LP now owns 447,857 shares of the shipping company’s stock valued at $7,582,000 after acquiring an additional 76,457 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Tsakos Energy Navigation by 7.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 404,801 shares of the shipping company’s stock worth $7,865,000 after buying an additional 28,916 shares during the period. Finally, Foundation Resource Management Inc. increased its position in shares of Tsakos Energy Navigation by 0.6% during the first quarter. Foundation Resource Management Inc. now owns 369,134 shares of the shipping company’s stock worth $9,372,000 after buying an additional 2,032 shares during the period. Institutional investors and hedge funds own 19.24% of the company’s stock.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers.