Tsakos Energy Navigation (NYSE:TNP) Share Price Passes Above Two Hundred Day Moving Average of $8.13

Tsakos Energy Navigation Limited (NYSE:TNP) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.13 and traded as high as $8.19. Tsakos Energy Navigation shares last traded at $8.15, with a volume of 114,390 shares.

Several brokerages recently weighed in on TNP. Jefferies Financial Group decreased their price target on Tsakos Energy Navigation from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, December 16th. Zacks Investment Research downgraded Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Tsakos Energy Navigation in a report on Friday, December 17th.

The company has a quick ratio of 0.62, a current ratio of 0.69 and a debt-to-equity ratio of 0.91. The business has a fifty day simple moving average of $7.74 and a 200 day simple moving average of $8.13. The company has a market cap of $148.30 million, a price-to-earnings ratio of -1.33 and a beta of 0.15.

Tsakos Energy Navigation (NYSE:TNP) last released its earnings results on Thursday, December 16th. The shipping company reported ($1.72) EPS for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.51). Tsakos Energy Navigation had a negative net margin of 14.78% and a negative return on equity of 5.18%. The business had revenue of $77.45 million during the quarter, compared to analyst estimates of $84.34 million. During the same period last year, the business posted ($0.55) EPS. Equities analysts anticipate that Tsakos Energy Navigation Limited will post -4.18 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in shares of Tsakos Energy Navigation by 3.4% in the 3rd quarter. Invesco Ltd. now owns 37,744 shares of the shipping company’s stock worth $404,000 after buying an additional 1,246 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Tsakos Energy Navigation by 20.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,000 shares of the shipping company’s stock worth $129,000 after acquiring an additional 2,500 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Tsakos Energy Navigation by 6.3% in the second quarter. Stifel Financial Corp now owns 113,098 shares of the shipping company’s stock valued at $973,000 after purchasing an additional 6,710 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Tsakos Energy Navigation by 46.4% in the second quarter. Wells Fargo & Company MN now owns 24,981 shares of the shipping company’s stock valued at $215,000 after purchasing an additional 7,917 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Tsakos Energy Navigation by 38.6% in the third quarter. Morgan Stanley now owns 35,628 shares of the shipping company’s stock valued at $381,000 after purchasing an additional 9,928 shares during the last quarter. 33.34% of the stock is owned by institutional investors.

About Tsakos Energy Navigation (NYSE:TNP)

Tsakos Energy Navigation Ltd. engages in the provision of seaborne crude oil and petroleum product transportation services. Its activities include the operation of crude tankers, product tankers, and liquefied natural gas carriers. The company was founded by Nikolas P. Tsakos and Michael Gordon Jolliffee in July 1993 and is headquartered in Athens, Greece.

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