Tsakos Energy Navigation (NYSE:TNP) Stock Price Passes Above 200-Day Moving Average of $9.79

Tsakos Energy Navigation Limited (NYSE:TNPGet Rating)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.79 and traded as high as $12.51. Tsakos Energy Navigation shares last traded at $12.05, with a volume of 93,069 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TNP shares. StockNews.com raised shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Tsakos Energy Navigation in a report on Monday, April 18th. Finally, Jefferies Financial Group assumed coverage on shares of Tsakos Energy Navigation in a research note on Wednesday, July 20th. They issued a “hold” rating and a $12.00 target price on the stock.

Tsakos Energy Navigation Stock Up 2.0 %

The company has a quick ratio of 0.65, a current ratio of 0.72 and a debt-to-equity ratio of 0.94. The company’s 50 day simple moving average is $10.36 and its 200 day simple moving average is $9.82.

Tsakos Energy Navigation (NYSE:TNPGet Rating) last announced its earnings results on Thursday, June 30th. The shipping company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.09. Tsakos Energy Navigation had a negative net margin of 25.33% and a negative return on equity of 3.72%. The business had revenue of $101.50 million during the quarter, compared to analysts’ expectations of $117.71 million. During the same quarter in the prior year, the company posted ($0.80) earnings per share. On average, research analysts anticipate that Tsakos Energy Navigation Limited will post 4.43 EPS for the current year.

Tsakos Energy Navigation Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 20th. Stockholders of record on Thursday, July 14th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Wednesday, July 13th. Tsakos Energy Navigation’s dividend payout ratio is presently -4.77%.

Institutional Trading of Tsakos Energy Navigation

A number of hedge funds have recently modified their holdings of the stock. Kovitz Investment Group Partners LLC bought a new position in Tsakos Energy Navigation in the 4th quarter valued at about $664,000. Foundation Resource Management Inc. increased its holdings in Tsakos Energy Navigation by 8.3% in the 1st quarter. Foundation Resource Management Inc. now owns 304,569 shares of the shipping company’s stock valued at $2,677,000 after buying an additional 23,395 shares during the period. Renaissance Technologies LLC increased its holdings in Tsakos Energy Navigation by 7.8% in the 1st quarter. Renaissance Technologies LLC now owns 189,278 shares of the shipping company’s stock valued at $1,664,000 after buying an additional 13,698 shares during the period. UBS Group AG increased its holdings in Tsakos Energy Navigation by 157.2% in the 1st quarter. UBS Group AG now owns 18,109 shares of the shipping company’s stock valued at $158,000 after buying an additional 11,067 shares during the period. Finally, Invesco Ltd. increased its holdings in Tsakos Energy Navigation by 110.5% in the 1st quarter. Invesco Ltd. now owns 74,887 shares of the shipping company’s stock valued at $658,000 after buying an additional 39,309 shares during the period. Institutional investors and hedge funds own 32.50% of the company’s stock.

About Tsakos Energy Navigation

(Get Rating)

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 21, 2022, it operated a fleet of 66 double-hull vessels, comprising of 60 conventional tankers, three LNG carriers, and three suezmax DP2 shuttle tankers.

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