Tsakos Energy Navigation Ltd. (NYSE:TNP)‘s stock had its “buy” rating reaffirmed by analysts at Maxim Group in a research report issued on Tuesday. They presently have a $7.00 price objective on the stock. Maxim Group’s price target would suggest a potential upside of 44.93% from the stock’s current price.

The analysts wrote, “TNP continues to be our Top Pick in the tanker space as 4Q16 earnings outpaced the market. We believe further upside in the stock remains due to fleet expansion in 2017 (fully chartered) and increasing sentiment for a tanker recovery. However, due to lagging asset values, we are lowering our price target to $7 from $9. Based on our regression analyses, we expect increased asset prices to occur in early 2018. Our thesis of new crude trade routes ex-North America could be developing. Recently, there have been Canadian crude fixtures from the Atlantic to China and India.””

A number of other equities research analysts also recently weighed in on TNP. Credit Suisse Group AG reiterated a “hold” rating and issued a $5.00 price target on shares of Tsakos Energy Navigation in a report on Friday. Clarkson Capital reiterated a “buy” rating on shares of Tsakos Energy Navigation in a report on Tuesday, January 10th. JPMorgan Chase & Co. lowered their price target on Tsakos Energy Navigation from $8.00 to $7.50 and set an “overweight” rating for the company in a report on Wednesday, November 30th. Finally, Zacks Investment Research downgraded Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a report on Wednesday, February 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. Tsakos Energy Navigation has a consensus rating of “Buy” and a consensus price target of $7.08.

Analyst Recommendations for Tsakos Energy Navigation (NYSE:TNP)

Shares of Tsakos Energy Navigation (NYSE:TNP) opened at 4.83 on Tuesday. The firm has a 50-day moving average price of $4.65 and a 200-day moving average price of $4.77. The firm has a market cap of $404.66 million, a P/E ratio of 6.13 and a beta of 1.87. Tsakos Energy Navigation has a 12-month low of $3.92 and a 12-month high of $6.79.

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Large investors have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D boosted its position in shares of Tsakos Energy Navigation by 118.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 25,300 shares of the company’s stock valued at $122,000 after buying an additional 13,700 shares during the last quarter. Ellington Management Group LLC acquired a new position in shares of Tsakos Energy Navigation during the fourth quarter valued at $238,000. Renaissance Group LLC boosted its position in shares of Tsakos Energy Navigation by 7.3% in the fourth quarter. Renaissance Group LLC now owns 51,213 shares of the company’s stock valued at $240,000 after buying an additional 3,500 shares during the last quarter. State Street Corp boosted its position in shares of Tsakos Energy Navigation by 12.1% in the fourth quarter. State Street Corp now owns 97,858 shares of the company’s stock valued at $459,000 after buying an additional 10,564 shares during the last quarter. Finally, WFG Advisors LP boosted its position in shares of Tsakos Energy Navigation by 113.8% in the fourth quarter. WFG Advisors LP now owns 119,427 shares of the company’s stock valued at $5,079,000 after buying an additional 63,578 shares during the last quarter. Institutional investors and hedge funds own 27.25% of the company’s stock.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Limited is a provider of international seaborne crude oil and petroleum product transportation services. The Company operates through maritime transportation of liquid energy related products segment. It operates a fleet of approximately 50 modern crude oil and petroleum product tankers that provide marine transportation services for national and other independent oil companies and refiners under long, medium and short-term charters.

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