Russell Investments Group Ltd. Lowers Stock Holdings in TSAKOS ENERGY N/SH (NYSE:TNP)
Russell Investments Group Ltd. reduced its holdings in TSAKOS ENERGY N/SH (NYSE:TNP) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,413,513 shares of the shipping company’s stock after selling 6,267 shares during the quarter. Russell Investments Group Ltd. owned approximately 2.75% of TSAKOS ENERGY N/SH worth $7,926,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its stake in 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 buying an additional 7,159 shares during the last quarter. Stephens Inc. AR lifted its holdings in shares of TSAKOS ENERGY N/SH by 43.3% during the 1st quarter. Stephens Inc. AR now owns 32,348 shares of the shipping company’s stock worth $100,000 after acquiring an additional 9,778 shares during the period. NEXT Financial Group Inc acquired a new stake in shares of TSAKOS ENERGY N/SH in the second quarter worth approximately $271,000. JPMorgan Chase & Co. boosted its position in shares of TSAKOS ENERGY N/SH by 53.9% in the second quarter. JPMorgan Chase & Co. now owns 114,432 shares of the shipping company’s stock worth $364,000 after acquiring an additional 40,080 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in TSAKOS ENERGY N/SH by 1,687.4% in the second quarter. Acadian Asset Management LLC now owns 142,795 shares of the shipping company’s stock valued at $469,000 after purchasing an additional 134,806 shares during the period. Hedge funds and other institutional investors own 22.38% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of TSAKOS ENERGY N/SH from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $3.83.
TSAKOS ENERGY N/SH (NYSE:TNP) last released its quarterly earnings data on Friday, September 6th. The shipping company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). TSAKOS ENERGY N/SH had a negative return on equity of 0.02% and a negative net margin of 11.59%. The firm had revenue of $108.83 million during the quarter, compared to analysts’ expectations of $99.61 million. On average, equities research analysts predict that TSAKOS ENERGY N/SH will post -0.07 earnings per share for the current year.
TSAKOS ENERGY N/SH 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.
Recommended Story: Neutral Rating
Want to see what other hedge funds are holding TNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TSAKOS ENERGY N/SH (NYSE:TNP).
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.