Credit Suisse Group AG downgraded shares of Tsakos Energy Navigation Ltd (NYSE:TNP) from an outperform rating to a neutral rating in a research note issued to investors on Friday. They currently have $5.00 price objective on the stock, down from their prior price objective of $8.00.
A number of other research analysts have also recently commented on the company. Clarkson Capital reissued a buy rating on shares of Tsakos Energy Navigation in a research note on Tuesday, January 10th. Maxim Group assumed coverage on Tsakos Energy Navigation in a research note on Tuesday, December 20th. They issued a buy rating and a $9.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Tsakos Energy Navigation from $8.00 to $7.50 and set an overweight rating on the stock in a research note on Wednesday, November 30th. Finally, Zacks Investment Research raised Tsakos Energy Navigation from a sell rating to a hold rating in a research note on Tuesday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $7.42.
Shares of Tsakos Energy Navigation (NYSE:TNP) opened at 4.96 on Friday. The company has a 50-day moving average price of $4.83 and a 200-day moving average price of $4.87. The company has a market capitalization of $415.55 million, a price-to-earnings ratio of 6.29 and a beta of 2.07. Tsakos Energy Navigation has a 12 month low of $3.92 and a 12 month high of $6.79.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 22nd. Stockholders of record on Friday, December 16th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, December 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.03%. Tsakos Energy Navigation’s dividend payout ratio (DPR) is currently 25.32%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kopernik Global Investors LLC boosted its position in shares of Tsakos Energy Navigation by 30.5% in the third quarter. Kopernik Global Investors LLC now owns 3,354,509 shares of the company’s stock worth $16,168,000 after buying an additional 783,364 shares during the period. Emerald Acquisition Ltd. raised its stake in Tsakos Energy Navigation by 5.8% in the third quarter. Emerald Acquisition Ltd. now owns 1,053,292 shares of the company’s stock worth $5,077,000 after buying an additional 57,863 shares in the last quarter. York Capital Management Global Advisors LLC purchased a new stake in Tsakos Energy Navigation during the third quarter worth $2,336,000. Royal Bank of Canada raised its stake in Tsakos Energy Navigation by 33.4% in the second quarter. Royal Bank of Canada now owns 403,203 shares of the company’s stock worth $1,891,000 after buying an additional 101,035 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Tsakos Energy Navigation by 29.9% in the third quarter. Wells Fargo & Company MN now owns 396,423 shares of the company’s stock worth $1,911,000 after buying an additional 91,187 shares in the last quarter. 26.03% 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.