Tsakos Energy Navigation (NYSE:TNP) Upgraded to “Buy” by StockNews.com

Tsakos Energy Navigation (NYSE:TNP) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $30.00 price target on shares of Tsakos Energy Navigation in a research note on Wednesday.

Tsakos Energy Navigation Stock Down 0.4 %

Shares of TNP traded down $0.09 during mid-day trading on Thursday, hitting $25.39. 384,284 shares of the company’s stock were exchanged, compared to its average volume of 267,787. The company has a market cap of $749.26 million, a PE ratio of 2.24 and a beta of -0.15. Tsakos Energy Navigation has a 52 week low of $15.50 and a 52 week high of $26.50. The company has a 50-day simple moving average of $24.34 and a 200 day simple moving average of $22.43. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.49.

Hedge Funds Weigh In On Tsakos Energy Navigation

Hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. bought a new position in shares of Tsakos Energy Navigation in the fourth quarter valued at $32,000. Point72 Asset Management L.P. bought a new position in shares of Tsakos Energy Navigation in the fourth quarter valued at $47,000. Royal Bank of Canada grew its stake in shares of Tsakos Energy Navigation by 100.9% in the third quarter. Royal Bank of Canada now owns 4,182 shares of the shipping company’s stock valued at $64,000 after buying an additional 2,100 shares in the last quarter. Altshuler Shaham Ltd grew its stake in shares of Tsakos Energy Navigation by 33.3% in the fourth quarter. Altshuler Shaham Ltd now owns 4,000 shares of the shipping company’s stock valued at $75,000 after buying an additional 1,000 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Tsakos Energy Navigation in the third quarter valued at $91,000. 19.24% of the stock is owned by institutional investors.

Tsakos Energy Navigation Company Profile

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. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers.