Credit Suisse Group AG Reiterates Hold Rating for Tsakos Energy Navigation Ltd. (TNP)
Tsakos Energy Navigation Ltd. (NYSE:TNP)‘s stock had its “hold” rating restated by equities researchers at Credit Suisse Group AG in a note issued to investors on Friday. They presently have a $5.00 price target on the stock. Credit Suisse Group AG’s target price would suggest a potential upside of 3.52% from the company’s previous close.
Several other research analysts also recently commented on TNP. JPMorgan Chase & Co. cut their target price on Tsakos Energy Navigation from $8.00 to $7.50 and set an “overweight” rating for the company in a research note on Wednesday, November 30th. Maxim Group initiated coverage on Tsakos Energy Navigation in a research note on Tuesday, December 20th. They issued a “buy” rating and a $9.00 target price for the company. Clarkson Capital restated a “buy” rating on shares of Tsakos Energy Navigation in a research note on Tuesday, January 10th. Finally, Zacks Investment Research downgraded Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Wednesday, February 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $7.42.
Shares of Tsakos Energy Navigation (NYSE:TNP) opened at 4.83 on Friday. The company has a market capitalization of $404.66 million, a PE ratio of 6.13 and a beta of 1.87. Tsakos Energy Navigation has a 12-month low of $3.92 and a 12-month high of $6.79. The stock’s 50 day moving average price is $4.65 and its 200 day moving average price is $4.77.
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Several hedge funds have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D boosted its stake in Tsakos Energy Navigation by 118.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 25,300 shares of the company’s stock valued at $122,000 after buying an additional 13,700 shares during the last quarter. Ellington Management Group LLC acquired a new stake in Tsakos Energy Navigation during the fourth quarter valued at $238,000. Renaissance Group LLC boosted its stake in Tsakos Energy Navigation by 7.3% in the fourth quarter. Renaissance Group LLC now owns 51,213 shares of the company’s stock valued at $240,000 after buying an additional 3,500 shares during the last quarter. State Street Corp boosted its stake in Tsakos Energy Navigation by 12.1% in the fourth quarter. State Street Corp now owns 97,858 shares of the company’s stock valued at $459,000 after buying an additional 10,564 shares during the last quarter. Finally, WFG Advisors LP boosted its stake in Tsakos Energy Navigation by 113.8% in the fourth quarter. WFG Advisors LP now owns 119,427 shares of the company’s stock valued at $5,079,000 after buying an additional 63,578 shares during the last quarter. 27.25% of the stock is currently owned by hedge funds and other institutional investors.
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.
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