Tsakos Energy Navigation (NYSE:TNP) Stock Passes Above Two Hundred Day Moving Average of $9.62

Tsakos Energy Navigation Limited (NYSE:TNPGet Rating) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.62 and traded as high as $12.96. Tsakos Energy Navigation shares last traded at $12.56, with a volume of 241,723 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TNP shares. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Tsakos Energy Navigation in a research note on Monday, April 18th. StockNews.com raised shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. Finally, Jefferies Financial Group initiated coverage on shares of Tsakos Energy Navigation in a research note on Wednesday, July 20th. They set a “hold” rating and a $12.00 target price for the company.

Tsakos Energy Navigation Stock Up 7.4 %

The company has a market capitalization of $228.54 million, a PE ratio of -1.50 and a beta of -0.05. The company’s 50 day moving average is $10.22 and its two-hundred day moving average is $9.62. The company has a quick ratio of 0.65, a current ratio of 0.72 and a debt-to-equity ratio of 0.94.

Tsakos Energy Navigation (NYSE:TNPGet Rating) last posted its earnings results on Thursday, June 30th. The shipping company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.09. The company had revenue of $101.50 million during the quarter, compared to analysts’ expectations of $117.71 million. Tsakos Energy Navigation had a negative net margin of 25.33% and a negative return on equity of 3.72%. During the same period last year, the company posted ($0.80) earnings per share. On average, analysts anticipate that Tsakos Energy Navigation Limited will post 4.43 earnings per share for the current year.

Tsakos Energy Navigation Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 20th. Shareholders of record on Thursday, July 14th were paid a $0.10 dividend. The ex-dividend date was Wednesday, July 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.18%. Tsakos Energy Navigation’s payout ratio is currently -4.77%.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of institutional investors and hedge funds have recently made changes to their positions in TNP. Kovitz Investment Group Partners LLC purchased a new position in shares of Tsakos Energy Navigation in the 4th quarter worth $664,000. Foundation Resource Management Inc. grew its stake in shares of Tsakos Energy Navigation by 8.3% in the 1st quarter. Foundation Resource Management Inc. now owns 304,569 shares of the shipping company’s stock worth $2,677,000 after buying an additional 23,395 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Tsakos Energy Navigation by 7.8% in the 1st quarter. Renaissance Technologies LLC now owns 189,278 shares of the shipping company’s stock worth $1,664,000 after buying an additional 13,698 shares in the last quarter. UBS Group AG lifted its holdings in shares of Tsakos Energy Navigation by 157.2% in the 1st quarter. UBS Group AG now owns 18,109 shares of the shipping company’s stock worth $158,000 after acquiring an additional 11,067 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Tsakos Energy Navigation by 110.5% in the 1st quarter. Invesco Ltd. now owns 74,887 shares of the shipping company’s stock worth $658,000 after acquiring an additional 39,309 shares during the last quarter. 32.50% of the stock is owned by hedge funds and other institutional investors.

About Tsakos Energy Navigation

(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 21, 2022, it operated a fleet of 66 double-hull vessels, comprising of 60 conventional tankers, three LNG carriers, and three suezmax DP2 shuttle tankers.

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