Tsakos Energy Navigation (NYSE:TNP) Announces Earnings Results

Tsakos Energy Navigation (NYSE:TNPGet Rating) posted its quarterly earnings results on Thursday. The shipping company reported ($1.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.50), MarketWatch Earnings reports. Tsakos Energy Navigation had a negative net margin of 14.78% and a negative return on equity of 5.18%.

Shares of Tsakos Energy Navigation stock opened at $12.15 on Friday. The firm has a market cap of $221.08 million, a price-to-earnings ratio of -1.99 and a beta of 0.11. Tsakos Energy Navigation has a twelve month low of $6.75 and a twelve month high of $12.60. The business has a 50-day moving average price of $8.75 and a 200-day moving average price of $8.42.

A number of research firms have commented on TNP. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Tsakos Energy Navigation in a report on Friday, December 17th. Zacks Investment Research lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research report on Tuesday, March 29th. Jefferies Financial Group cut their price objective on Tsakos Energy Navigation from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, December 16th. Finally, StockNews.com began coverage on Tsakos Energy Navigation in a research report on Thursday, March 31st. They set a “sell” rating for the company.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Tsakos Energy Navigation by 2.5% in the fourth quarter. JPMorgan Chase & Co. now owns 102,558 shares of the shipping company’s stock worth $743,000 after acquiring an additional 2,549 shares in the last quarter. Invesco Ltd. grew its position in Tsakos Energy Navigation by 3.4% in the third quarter. Invesco Ltd. now owns 37,744 shares of the shipping company’s stock worth $404,000 after acquiring an additional 1,246 shares in the last quarter. Morgan Stanley grew its position in Tsakos Energy Navigation by 38.6% in the third quarter. Morgan Stanley now owns 35,628 shares of the shipping company’s stock worth $381,000 after acquiring an additional 9,928 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Tsakos Energy Navigation in the third quarter worth about $280,000. Finally, LPL Financial LLC grew its position in Tsakos Energy Navigation by 130.3% in the third quarter. LPL Financial LLC now owns 25,097 shares of the shipping company’s stock worth $269,000 after acquiring an additional 14,200 shares in the last quarter. Institutional investors own 34.27% of the company’s stock.

Tsakos Energy Navigation Company Profile (Get Rating)

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 2, 2021, it operated a fleet of 66 double-hull vessels, comprising of 61 conventional tankers, two LNG carriers, and three suezmax DP2 shuttle tankers.

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Earnings History for Tsakos Energy Navigation (NYSE:TNP)

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