TSAKOS ENERGY N/SH (NYSE:TNP) Sees Large Decrease in Short Interest

TSAKOS ENERGY N/SH (NYSE:TNP) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 270,000 shares, a decline of 18.7% from the June 15th total of 331,900 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 149,300 shares, the days-to-cover ratio is currently 1.8 days.

Separately, Zacks Investment Research raised shares of Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Wednesday, June 12th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. TSAKOS ENERGY N/SH presently has an average rating of “Buy” and a consensus target price of $3.83.

Several institutional investors and hedge funds have recently modified their holdings of the company. Camarda Financial Advisors LLC lifted its stake in TSAKOS ENERGY N/SH by 3.1% in the first quarter. Camarda Financial Advisors LLC now owns 621,703 shares of the shipping company’s stock worth $1,927,000 after acquiring an additional 18,574 shares during the period. California Public Employees Retirement System lifted its stake in TSAKOS ENERGY N/SH by 1.9% in the fourth quarter. California Public Employees Retirement System now owns 465,821 shares of the shipping company’s stock worth $1,239,000 after acquiring an additional 8,798 shares during the period. Stephens Inc. AR lifted its stake in TSAKOS ENERGY N/SH by 43.3% in the first quarter. Stephens Inc. AR now owns 32,348 shares of the shipping company’s stock worth $100,000 after acquiring an additional 9,778 shares during the period. NEXT Financial Group Inc purchased a new stake in TSAKOS ENERGY N/SH in the second quarter worth about $271,000. Finally, Foundation Resource Management Inc. lifted its stake in TSAKOS ENERGY N/SH by 0.9% in the second quarter. Foundation Resource Management Inc. now owns 480,816 shares of the shipping company’s stock worth $1,582,000 after acquiring an additional 4,339 shares during the period. 22.52% of the stock is owned by hedge funds and other institutional investors.

Shares of TNP traded down $0.02 during trading hours on Monday, reaching $3.29. 80,102 shares of the company traded hands, compared to its average volume of 126,556. The stock has a market capitalization of $289.55 million, a price-to-earnings ratio of -4.27 and a beta of 1.33. TSAKOS ENERGY N/SH has a 12-month low of $2.56 and a 12-month high of $3.73. The company has a current ratio of 1.06, a quick ratio of 0.99 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average of $3.27.

TSAKOS ENERGY N/SH (NYSE:TNP) last issued its earnings results on Thursday, June 6th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.01. The firm had revenue of $115.48 million during the quarter, compared to analyst estimates of $122.78 million. TSAKOS ENERGY N/SH had a negative net margin of 13.80% and a negative return on equity of 0.64%. On average, equities analysts expect that TSAKOS ENERGY N/SH will post -0.03 earnings per share for the current year.

About TSAKOS ENERGY N/SH

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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