Tsakos Energy Navigation (NYSE:TNP) Shares Gap Down to $28.77

Tsakos Energy Navigation Limited (NYSE:TNPGet Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $28.77, but opened at $28.11. Tsakos Energy Navigation shares last traded at $27.31, with a volume of 156,378 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TNP shares. StockNews.com downgraded shares of Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Jefferies Financial Group reissued a “buy” rating and set a $30.00 price target on shares of Tsakos Energy Navigation in a research note on Wednesday, March 27th.

Get Our Latest Analysis on TNP

Tsakos Energy Navigation Price Performance

The stock has a market capitalization of $832.77 million, a PE ratio of 3.19 and a beta of -0.12. The firm’s 50 day simple moving average is $28.32 and its 200 day simple moving average is $25.36. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.58 and a quick ratio of 1.51.

Tsakos Energy Navigation (NYSE:TNPGet Free Report) last posted its quarterly earnings results on Wednesday, March 27th. The shipping company reported $1.56 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.03). Tsakos Energy Navigation had a return on equity of 29.41% and a net margin of 33.74%. The business had revenue of $183.57 million for the quarter, compared to analysts’ expectations of $185.35 million. As a group, equities analysts forecast that Tsakos Energy Navigation Limited will post 9.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TNP. Stifel Financial Corp grew its holdings in shares of Tsakos Energy Navigation by 18.4% in the third quarter. Stifel Financial Corp now owns 88,479 shares of the shipping company’s stock worth $1,839,000 after purchasing an additional 13,778 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Tsakos Energy Navigation by 25.1% in the third quarter. GSA Capital Partners LLP now owns 69,056 shares of the shipping company’s stock valued at $1,435,000 after acquiring an additional 13,858 shares in the last quarter. Graham Capital Management L.P. bought a new stake in Tsakos Energy Navigation in the third quarter valued at $403,000. Dfpg Investments LLC boosted its holdings in Tsakos Energy Navigation by 13.7% in the fourth quarter. Dfpg Investments LLC now owns 25,432 shares of the shipping company’s stock valued at $596,000 after acquiring an additional 3,064 shares in the last quarter. Finally, Foundation Resource Management Inc. boosted its holdings in Tsakos Energy Navigation by 18.9% in the fourth quarter. Foundation Resource Management Inc. now owns 367,102 shares of the shipping company’s stock valued at $8,157,000 after acquiring an additional 58,451 shares in the last quarter. Institutional investors own 19.24% of the company’s stock.

About Tsakos Energy Navigation

(Get Free Report)

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.

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