Tsakos Energy Navigation (NYSE:TNP) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Tsakos Energy Navigation (NYSE:TNP) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

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

Tsakos Energy Navigation Trading Down 0.4 %

NYSE TNP opened at $25.39 on Thursday. Tsakos Energy Navigation has a 1-year low of $15.50 and a 1-year high of $26.50. The company has a current ratio of 1.54, a quick ratio of 1.49 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $749.26 million, a PE ratio of 2.81 and a beta of -0.15. The firm’s fifty day simple moving average is $24.36 and its 200-day simple moving average is $22.50.

Hedge Funds Weigh In On Tsakos Energy Navigation

Several hedge funds have recently bought and sold shares of the business. Millennium Management LLC increased its position in Tsakos Energy Navigation by 89.6% during the fourth quarter. Millennium Management LLC now owns 1,048,370 shares of the shipping company’s stock worth $17,749,000 after buying an additional 495,349 shares during the last quarter. Marshall Wace LLP increased its position in Tsakos Energy Navigation by 10.3% during the second quarter. Marshall Wace LLP now owns 518,534 shares of the shipping company’s stock worth $9,240,000 after buying an additional 48,522 shares during the last quarter. Two Sigma Investments LP increased its position in Tsakos Energy Navigation by 20.6% during the fourth quarter. Two Sigma Investments LP now owns 447,857 shares of the shipping company’s stock worth $7,582,000 after buying an additional 76,457 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Tsakos Energy Navigation by 7.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 404,801 shares of the shipping company’s stock worth $7,865,000 after buying an additional 28,916 shares during the last quarter. Finally, Foundation Resource Management Inc. boosted its holdings in Tsakos Energy Navigation by 18.9% during the fourth quarter. Foundation Resource Management Inc. now owns 367,102 shares of the shipping company’s stock valued at $8,157,000 after acquiring an additional 58,451 shares during the period. 19.24% of the stock is owned by institutional investors and hedge funds.

About Tsakos Energy Navigation

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.