Global X Management Co. LLC boosted its stake in shares of Tsakos Energy Navigation Ltd (NYSE:TNP) by 22.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,345,697 shares of the shipping company’s stock after buying an additional 249,746 shares during the period. Global X Management Co. LLC’s holdings in Tsakos Energy Navigation were worth $6,459,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TNP. Russell Investments Group Ltd. raised its position in Tsakos Energy Navigation by 10.1% in the first quarter. Russell Investments Group Ltd. now owns 1,225,980 shares of the shipping company’s stock valued at $5,872,000 after buying an additional 112,210 shares during the period. WealthTrust Axiom LLC raised its position in Tsakos Energy Navigation by 2.8% in the first quarter. WealthTrust Axiom LLC now owns 288,009 shares of the shipping company’s stock valued at $1,379,000 after buying an additional 7,900 shares during the period. Essex Investment Management Co. LLC raised its position in Tsakos Energy Navigation by 29.9% in the first quarter. Essex Investment Management Co. LLC now owns 99,023 shares of the shipping company’s stock valued at $474,000 after buying an additional 22,802 shares during the period. Wells Fargo & Company MN raised its position in Tsakos Energy Navigation by 34.5% in the first quarter. Wells Fargo & Company MN now owns 699,247 shares of the shipping company’s stock valued at $3,349,000 after buying an additional 179,537 shares during the period. Finally, LSV Asset Management raised its position in Tsakos Energy Navigation by 2.1% in the first quarter. LSV Asset Management now owns 2,052,774 shares of the shipping company’s stock valued at $9,832,000 after buying an additional 42,100 shares during the period. 28.30% of the stock is currently owned by institutional investors and hedge funds.

Tsakos Energy Navigation Ltd (NYSE:TNP) opened at 4.63 on Friday. The company’s 50-day moving average price is $4.88 and its 200 day moving average price is $4.68. The firm has a market capitalization of $388.76 million, a price-to-earnings ratio of 12.22 and a beta of 1.69. Tsakos Energy Navigation Ltd has a 52-week low of $3.92 and a 52-week high of $5.41.

Tsakos Energy Navigation (NYSE:TNP) last released its quarterly earnings results on Friday, May 12th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The company had revenue of $108.16 million during the quarter, compared to the consensus estimate of $113.51 million. Tsakos Energy Navigation had a return on equity of 3.40% and a net margin of 9.61%. Equities research analysts predict that Tsakos Energy Navigation Ltd will post $0.39 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Tuesday, July 11th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, July 7th. This represents a $0.20 annualized dividend and a dividend yield of 4.32%. Tsakos Energy Navigation’s dividend payout ratio (DPR) is presently 51.28%.

TRADEMARK VIOLATION NOTICE: This article was first reported by Watch List News and is the property of of Watch List News. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://www.watchlistnews.com/tsakos-energy-navigation-ltd-tnp-shares-bought-by-global-x-management-co-llc/1477275.html.

Several research firms recently commented on TNP. Jefferies Group LLC reissued a “buy” rating and set a $6.00 price target on shares of Tsakos Energy Navigation in a research report on Tuesday, July 4th. BidaskClub lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Wells Fargo & Company lowered Tsakos Energy Navigation from an “outperform” rating to a “market perform” rating and set a $3.00 price target on the stock. in a research report on Wednesday, August 2nd. Maxim Group set a $7.00 price target on Tsakos Energy Navigation and gave the stock a “buy” rating in a research report on Sunday, May 14th. Finally, Zacks Investment Research lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Tsakos Energy Navigation currently has a consensus rating of “Hold” and an average target price of $5.75.

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.

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 Navigation Ltd (NYSE:TNP).

Institutional Ownership by Quarter for Tsakos Energy Navigation (NYSE:TNP)

Receive News & Ratings for Tsakos Energy Navigation Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tsakos Energy Navigation Ltd and related companies with Analyst Ratings Network's FREE daily email newsletter.