Tsakos Energy Navigation (NYSE:TNP) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Tsakos Energy Navigation (NYSE:TNP) from a hold rating to a buy rating in a report released on Saturday.

Separately, Jefferies Financial Group restated a buy rating and set a $30.00 price target on shares of Tsakos Energy Navigation in a research note on Wednesday, March 27th.

Tsakos Energy Navigation Price Performance

Tsakos Energy Navigation stock opened at $25.32 on Friday. The stock has a market capitalization of $747.19 million, a PE ratio of 2.81 and a beta of -0.14. The business’s fifty day moving average is $24.74 and its 200 day moving average is $23.02. Tsakos Energy Navigation has a one year low of $15.50 and a one year high of $27.20.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TNP. Renaissance Technologies LLC grew its stake in shares of Tsakos Energy Navigation by 7.8% during the 1st quarter. Renaissance Technologies LLC now owns 189,278 shares of the shipping company’s stock valued at $1,664,000 after acquiring an additional 13,698 shares during the period. UBS Group AG grew its stake in shares of Tsakos Energy Navigation by 157.2% during the 1st quarter. UBS Group AG now owns 18,109 shares of the shipping company’s stock valued at $158,000 after acquiring an additional 11,067 shares during the period. Invesco Ltd. boosted its stake in Tsakos Energy Navigation by 110.5% in the 1st quarter. Invesco Ltd. now owns 74,887 shares of the shipping company’s stock worth $658,000 after purchasing an additional 39,309 shares during the period. Engineers Gate Manager LP bought a new position in Tsakos Energy Navigation in the 1st quarter worth approximately $108,000. Finally, Bank of America Corp DE boosted its stake in Tsakos Energy Navigation by 167.2% in the 1st quarter. Bank of America Corp DE now owns 20,460 shares of the shipping company’s stock worth $180,000 after purchasing an additional 12,804 shares during the period. 19.24% of the stock is currently 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.