Tsakos Energy Navigation (NYSE:TNP) Downgraded to “Hold” at StockNews.com

Tsakos Energy Navigation (NYSE:TNP) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Jefferies Financial Group restated a “buy” rating and set a $30.00 price target on shares of Tsakos Energy Navigation in a report on Wednesday, March 27th.

Tsakos Energy Navigation Stock Down 0.9 %

NYSE TNP opened at $26.38 on Friday. Tsakos Energy Navigation has a twelve month low of $15.50 and a twelve month high of $27.20. The business’s fifty day moving average is $24.58 and its 200 day moving average is $22.75. The company has a market cap of $778.47 million, a price-to-earnings ratio of 2.92 and a beta of -0.14.

Institutional Trading of Tsakos Energy Navigation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in shares of Tsakos Energy Navigation by 7.8% in the first quarter. Renaissance Technologies LLC now owns 189,278 shares of the shipping company’s stock valued at $1,664,000 after buying an additional 13,698 shares during the period. UBS Group AG increased its position in Tsakos Energy Navigation by 157.2% during the 1st quarter. UBS Group AG now owns 18,109 shares of the shipping company’s stock valued at $158,000 after purchasing an additional 11,067 shares during the period. Invesco Ltd. increased its position in Tsakos Energy Navigation by 110.5% during the 1st quarter. Invesco Ltd. now owns 74,887 shares of the shipping company’s stock valued at $658,000 after purchasing an additional 39,309 shares during the period. Engineers Gate Manager LP bought a new position in Tsakos Energy Navigation during the 1st quarter worth approximately $108,000. Finally, Bank of America Corp DE lifted its position in shares of Tsakos Energy Navigation by 167.2% in the 1st quarter. Bank of America Corp DE now owns 20,460 shares of the shipping company’s stock worth $180,000 after purchasing an additional 12,804 shares during the period. 19.24% of the stock is currently owned by institutional investors and hedge funds.

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.