BidaskClub Downgrades Tsakos Energy Navigation Ltd (TNP) to Strong Sell

Tsakos Energy Navigation Ltd (NYSE:TNP) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday.

TNP has been the topic of several other research reports. Maxim Group restated a “buy” rating and set a $7.00 target price on shares of Tsakos Energy Navigation in a report on Monday, May 8th. ValuEngine lowered shares of Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a report on Thursday, April 27th. Jefferies Group LLC restated a “buy” rating and set a $6.00 target price on shares of Tsakos Energy Navigation in a report on Monday, April 24th. Finally, Wells Fargo & Company lowered shares of Tsakos Energy Navigation from an “outperform” rating to a “market perform” rating and set a $3.00 target price on the stock. in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Tsakos Energy Navigation has a consensus rating of “Hold” and a consensus price target of $5.75.

Tsakos Energy Navigation (NYSE TNP) opened at 4.39 on Thursday. Tsakos Energy Navigation has a 12-month low of $3.92 and a 12-month high of $5.41. The company has a 50-day moving average price of $4.85 and a 200-day moving average price of $4.66. The firm has a market capitalization of $368.61 million, a PE ratio of 11.58 and a beta of 1.69.

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A number of institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in shares of Tsakos Energy Navigation by 49.8% in the first quarter. Ameriprise Financial Inc. now owns 27,235 shares of the shipping company’s stock worth $130,000 after buying an additional 9,060 shares in the last quarter. KCG Holdings Inc. raised its position in shares of Tsakos Energy Navigation by 74.6% in the first quarter. KCG Holdings Inc. now owns 31,543 shares of the shipping company’s stock worth $151,000 after buying an additional 13,473 shares in the last quarter. Creative Planning raised its position in shares of Tsakos Energy Navigation by 59.1% in the second quarter. Creative Planning now owns 42,160 shares of the shipping company’s stock worth $202,000 after buying an additional 15,660 shares in the last quarter. WFG Advisors LP raised its position in shares of Tsakos Energy Navigation by 0.3% in the second quarter. WFG Advisors LP now owns 51,763 shares of the shipping company’s stock worth $248,000 after buying an additional 156 shares in the last quarter. Finally, Virtu KCG Holdings LLC raised its position in shares of Tsakos Energy Navigation by 65.2% in the second quarter. Virtu KCG Holdings LLC now owns 52,120 shares of the shipping company’s stock worth $250,000 after buying an additional 20,577 shares in the last quarter. Hedge funds and other institutional investors own 28.30% of the company’s stock.

About Tsakos Energy Navigation

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.

Analyst Recommendations for Tsakos Energy Navigation (NYSE:TNP)

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