TSAKOS ENERGY N/SH’s (TNP) Buy Rating Reiterated at Seaport Global Securities

TSAKOS ENERGY N/SH (NYSE:TNP)‘s stock had its “buy” rating reiterated by stock analysts at Seaport Global Securities in a research report issued on Friday, March 29th, Zacks.com reports.

A number of other analysts have also recently weighed in on TNP. Wells Fargo & Co decreased their target price on shares of TSAKOS ENERGY N/SH from $3.20 to $3.00 and set a “buy” rating on the stock in a research note on Monday, December 3rd. JPMorgan Chase & Co. cut shares of TSAKOS ENERGY N/SH from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 23rd. Morgan Stanley cut shares of TSAKOS ENERGY N/SH from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective on the stock. in a research note on Friday, February 15th. Finally, Zacks Investment Research cut shares of TSAKOS ENERGY N/SH from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. TSAKOS ENERGY N/SH has a consensus rating of “Hold” and a consensus target price of $4.38.

Shares of NYSE TNP traded down $0.01 during midday trading on Friday, reaching $3.34. 90,000 shares of the company were exchanged, compared to its average volume of 106,029. The stock has a market cap of $294.35 million, a PE ratio of -4.34 and a beta of 1.43. TSAKOS ENERGY N/SH has a one year low of $2.56 and a one year high of $3.99.

TSAKOS ENERGY N/SH (NYSE:TNP) last posted its earnings results on Friday, March 29th. The shipping company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The company had revenue of $118.97 million for the quarter, compared to the consensus estimate of $121.61 million. TSAKOS ENERGY N/SH had a negative return on equity of 2.16% and a negative net margin of 18.72%. As a group, analysts expect that TSAKOS ENERGY N/SH will post -0.08 EPS for the current year.

Several institutional investors have recently modified their holdings of TNP. Wealthsource Partners LLC lifted its holdings in TSAKOS ENERGY N/SH by 36.7% in the fourth quarter. Wealthsource Partners LLC now owns 15,234 shares of the shipping company’s stock valued at $41,000 after buying an additional 4,092 shares during the period. Virtu Financial LLC raised its holdings in shares of TSAKOS ENERGY N/SH by 95.1% during the fourth quarter. Virtu Financial LLC now owns 39,525 shares of the shipping company’s stock valued at $105,000 after purchasing an additional 19,263 shares during the period. WealthTrust Axiom LLC raised its holdings in shares of TSAKOS ENERGY N/SH by 6.3% during the fourth quarter. WealthTrust Axiom LLC now owns 424,150 shares of the shipping company’s stock valued at $1,128,000 after purchasing an additional 25,000 shares during the period. California Public Employees Retirement System raised its holdings in shares of TSAKOS ENERGY N/SH by 1.9% during the fourth quarter. California Public Employees Retirement System now owns 465,821 shares of the shipping company’s stock valued at $1,239,000 after purchasing an additional 8,798 shares during the period. Finally, Camarda Financial Advisors LLC raised its holdings in shares of TSAKOS ENERGY N/SH by 2,961.6% during the fourth quarter. Camarda Financial Advisors LLC now owns 603,129 shares of the shipping company’s stock valued at $1,604,000 after purchasing an additional 583,429 shares during the period. 23.47% of the stock is currently owned by institutional investors.

TSAKOS ENERGY N/SH 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. As of April 20, 2018, it operated a fleet of 64 double-hull vessels, including 59 conventional tankers, 2 liquefied natural gas carriers, and 3 suezmax DP2 shuttle tankers.

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Analyst Recommendations for TSAKOS ENERGY N/SH (NYSE:TNP)

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