TSAKOS ENERGY N/SH (NYSE:TNP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.
According to Zacks, “Tsakos Energy Navigation is a leading provider of international seaborne crude oil and petroleum product transportation services. It was incorporated in 1993 as an exempted company under the laws of Bermuda under the name Maritime Investment Fund Limited. In 1996, Maritime Investment Fund Limited was renamed MIF Limited. Their common shares were listed in 1993 on the Oslo Stock Exchange and the Bermuda Stock Exchange although they delisted from the OSE in March 2005 due to limited trading. The Company’s shares are no longer actively traded on the Bermuda exchange. In July 2001, the Company’s name was changed to Tsakos Energy Navigation to enhance their brand recognition in the tanker industry, particularly among charterers. “
Other equities analysts have also issued research reports about the company. Morgan Stanley lowered TSAKOS ENERGY N/SH from an “overweight” rating to an “equal weight” rating and set a $4.00 price target on the stock. in a research note on Friday, February 15th. Seaport Global Securities reiterated a “buy” rating on shares of TSAKOS ENERGY N/SH in a report on Friday, March 29th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $4.38.
TNP opened at $3.19 on Wednesday. The company has a market cap of $280.35 million, a PE ratio of -4.14 and a beta of 1.33. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.96. TSAKOS ENERGY N/SH has a 1 year low of $2.56 and a 1 year high of $3.99.
TSAKOS ENERGY N/SH (NYSE:TNP) last announced its quarterly earnings results on Thursday, June 6th. The shipping company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $115.48 million for the quarter, compared to analysts’ expectations of $122.78 million. TSAKOS ENERGY N/SH had a negative return on equity of 0.63% and a negative net margin of 13.80%. As a group, research analysts predict that TSAKOS ENERGY N/SH will post -0.08 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the business. Morgan Stanley increased its holdings in shares of TSAKOS ENERGY N/SH by 48.9% in the first quarter. Morgan Stanley now owns 142,721 shares of the shipping company’s stock worth $442,000 after acquiring an additional 46,853 shares in the last quarter. SEI Investments Co bought a new position in shares of TSAKOS ENERGY N/SH during the first quarter worth about $312,000. Renaissance Technologies LLC grew its holdings in shares of TSAKOS ENERGY N/SH by 3.2% during the first quarter. Renaissance Technologies LLC now owns 2,422,400 shares of the shipping company’s stock worth $7,509,000 after buying an additional 75,600 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of TSAKOS ENERGY N/SH by 44.9% during the first quarter. Envestnet Asset Management Inc. now owns 16,992 shares of the shipping company’s stock worth $53,000 after buying an additional 5,267 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of TSAKOS ENERGY N/SH by 6.5% during the first quarter. Wells Fargo & Company MN now owns 65,093 shares of the shipping company’s stock worth $202,000 after buying an additional 3,979 shares in the last quarter. Institutional investors own 22.42% of the company’s stock.
TSAKOS ENERGY N/SH 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. As of April 20, 2018, it operated a fleet of 64 double-hull vessels, including 59 conventional tankers, 2 liquefied natural gas carriers, and 3 suezmax DP2 shuttle tankers.
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