Tsakos Energy Navigation (TNP) Cut to Strong Sell at ValuEngine
Tsakos Energy Navigation (NYSE:TNP) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Thursday.
Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus set a $6.00 price objective on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a report on Wednesday, January 24th. Jefferies Group assumed coverage on shares of Tsakos Energy Navigation in a report on Monday, December 18th. They set a “buy” rating and a $6.00 price objective for the company. Maxim Group set a $6.00 price objective on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a report on Thursday, November 30th. Zacks Investment Research lowered shares of Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 20th. Finally, Morgan Stanley decreased their price objective on shares of Tsakos Energy Navigation from $5.50 to $4.00 and set an “overweight” rating for the company in a report on Monday, February 12th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Tsakos Energy Navigation presently has an average rating of “Hold” and a consensus target price of $5.14.
Shares of Tsakos Energy Navigation (NYSE:TNP) opened at $3.38 on Thursday. The stock has a market cap of $281.82, a PE ratio of 30.73, a PEG ratio of 3.02 and a beta of 1.37. The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 1.02. Tsakos Energy Navigation has a twelve month low of $3.11 and a twelve month high of $5.27.
A number of institutional investors and hedge funds have recently made changes to their positions in TNP. Ameriprise Financial Inc. increased its position in Tsakos Energy Navigation by 7.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 29,339 shares of the shipping company’s stock valued at $141,000 after purchasing an additional 2,104 shares during the period. Goldman Sachs Group Inc. purchased a new position in Tsakos Energy Navigation during the 4th quarter valued at about $237,000. Virtu Financial LLC increased its position in Tsakos Energy Navigation by 679.3% during the 4th quarter. Virtu Financial LLC now owns 83,904 shares of the shipping company’s stock valued at $328,000 after purchasing an additional 73,138 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Tsakos Energy Navigation by 534.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 95,609 shares of the shipping company’s stock valued at $374,000 after purchasing an additional 80,538 shares during the period. Finally, Millennium Management LLC purchased a new position in Tsakos Energy Navigation during the 4th quarter valued at about $466,000. Institutional investors own 26.11% of the company’s stock.
About Tsakos Energy Navigation
Tsakos Energy Navigation Ltd 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. The Company consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and liquefied natural gas (LNG) carriers, totaling 7.2 million deadweight.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Tsakos Energy Navigation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tsakos Energy Navigation and related companies with MarketBeat.com's FREE daily email newsletter.