Zacks Investment Research upgraded shares of TSAKOS ENERGY N/SH (NYSE:TNP) from a sell rating to a hold rating in a research report released on Tuesday morning, 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 NYSE:TNP opened at $2.84 on Tuesday. The stock has a market capitalization of $256.70 million, a P/E ratio of -3.69 and a beta of 1.32. TSAKOS ENERGY N/SH has a 1-year low of $2.56 and a 1-year high of $3.73. 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 business has a 50-day moving average price of $2.93 and a two-hundred day moving average price of $3.16.

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

A number of large investors have recently made changes to their positions in the business. Wolverine Trading LLC raised its holdings in TSAKOS ENERGY N/SH by 49.4% during 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 during the last quarter. Eaton Vance Management raised its holdings in TSAKOS ENERGY N/SH by 95.9% during the 2nd quarter. Eaton Vance Management now owns 33,300 shares of the shipping company’s stock worth $110,000 after purchasing an additional 16,300 shares during the last quarter. Susquehanna International Group LLP raised its holdings in TSAKOS ENERGY N/SH by 420.3% during the 2nd quarter. Susquehanna International Group LLP now owns 139,123 shares of the shipping company’s stock worth $458,000 after purchasing an additional 112,386 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in TSAKOS ENERGY N/SH during the 2nd quarter worth about $69,000. Finally, Cubist Systematic Strategies LLC bought a new stake in TSAKOS ENERGY N/SH during the 2nd quarter worth about $45,000. 22.38% of the stock is owned by hedge funds and other institutional investors.

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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