TSAKOS ENERGY N/SH (NYSE:TNP) Upgraded at Zacks Investment Research

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TSAKOS ENERGY N/SH (NYSE:TNP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

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.

TSAKOS ENERGY N/SH (NYSE:TNP) last announced its earnings results on Friday, September 6th. The shipping company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The company had revenue of $108.83 million for the quarter, compared to analysts’ expectations of $99.61 million. TSAKOS ENERGY N/SH had a negative net margin of 11.59% and a negative return on equity of 0.02%. As a group, research analysts forecast that TSAKOS ENERGY N/SH will post -0.12 EPS for the current fiscal year.

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.

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