According to Zacks, “Tsakos Energy Navigation is a leading provider of international seaborne crude oil and petroleum product transportation services. It was incorporated in 1993 as an exempted company under the laws of Bermuda under the name Maritime Investment Fund Limited. In 1996, Maritime Investment Fund Limited was renamed MIF Limited. Their common shares were listed in 1993 on the Oslo Stock Exchange and the Bermuda Stock Exchange although they delisted from the OSE in March 2005 due to limited trading. The Company’s shares are no longer actively traded on the Bermuda exchange. In July 2001, the Company’s name was changed to Tsakos Energy Navigation to enhance their brand recognition in the tanker industry, particularly among charterers. “
Shares of TNP opened at $3.00 on Tuesday. The firm has a market cap of $256.70 million, a PE ratio of -3.90 and a beta of 1.32. The company has a current ratio of 1.06, a quick ratio of 0.99 and a debt-to-equity ratio of 0.94. The firm has a fifty day simple moving average of $2.93 and a two-hundred day simple moving average of $3.16. TSAKOS ENERGY N/SH has a 1-year low of $2.56 and a 1-year high of $3.73.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new stake in TSAKOS ENERGY N/SH during the 2nd quarter valued at $45,000. Wolverine Trading LLC increased its stake in shares of TSAKOS ENERGY N/SH by 49.4% in the 2nd quarter. Wolverine Trading LLC now owns 17,945 shares of the shipping company’s stock worth $59,000 after purchasing an additional 5,931 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of TSAKOS ENERGY N/SH in the 2nd quarter worth $69,000. Envestnet Asset Management Inc. increased its stake in shares of TSAKOS ENERGY N/SH by 42.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 24,151 shares of the shipping company’s stock worth $79,000 after purchasing an additional 7,159 shares in the last quarter. Finally, Stephens Inc. AR increased its stake in shares of TSAKOS ENERGY N/SH by 43.3% in the 1st quarter. Stephens Inc. AR now owns 32,348 shares of the shipping company’s stock worth $100,000 after purchasing an additional 9,778 shares in the last quarter. Institutional investors and hedge funds own 22.38% of the company’s stock.
TSAKOS ENERGY N/SH 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. As of April 20, 2018, it operated a fleet of 64 double-hull vessels, including 59 conventional tankers, 2 liquefied natural gas carriers, and 3 suezmax DP2 shuttle tankers.
Featured Article: Marijuana Stocks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TSAKOS ENERGY N/SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TSAKOS ENERGY N/SH and related companies with MarketBeat.com's FREE daily email newsletter.