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

Tsakos Energy Navigation (NYSE:TNP) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, Jefferies Financial Group reaffirmed 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 Stock Down 1.7 %

Shares of TNP stock opened at $25.36 on Friday. Tsakos Energy Navigation has a 52 week low of $15.50 and a 52 week high of $27.20. The firm has a 50 day moving average of $24.69 and a 200-day moving average of $22.93. The company has a market cap of $748.27 million, a price-to-earnings ratio of 2.81 and a beta of -0.14.

Institutional Investors Weigh In On Tsakos Energy Navigation

A number of hedge funds have recently added to or reduced their stakes in TNP. Graham Capital Management L.P. bought a new stake in shares of Tsakos Energy Navigation during the third quarter worth about $403,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Tsakos Energy Navigation in the third quarter valued at approximately $1,120,000. Foundation Resource Management Inc. boosted its position in shares of Tsakos Energy Navigation by 18.9% during the fourth quarter. Foundation Resource Management Inc. now owns 367,102 shares of the shipping company’s stock valued at $8,157,000 after buying an additional 58,451 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Tsakos Energy Navigation by 18.4% during the third quarter. Stifel Financial Corp now owns 88,479 shares of the shipping company’s stock valued at $1,839,000 after buying an additional 13,778 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in Tsakos Energy Navigation during the third quarter worth $91,000. 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.