Today’s Price Action: Could Tsakos Energy Navigation Ltd. See a Reversal After This Very Strong Session?

Today's Price Action: Could Tsakos Energy Navigation Ltd. See a Reversal After This Very Strong Session?

The stock of Tsakos Energy Navigation Ltd. (NYSE:TNP) is a huge mover today! About 643,511 shares traded hands or 42.19% up from the average. Tsakos Energy Navigation Ltd. (NYSE:TNP) has declined 23.23% since April 14, 2016 and is downtrending. It has underperformed by 27.91% the S&P500.
The move comes after 7 months positive chart setup for the $417.05M company. It was reported on Nov, 16 by Barchart.com. We have $7.02 PT which if reached, will make NYSE:TNP worth $191.84M more.

Tsakos Energy Navigation Ltd. (NYSE:TNP) Ratings Coverage

Out of 5 analysts covering Tsakos Energy Navigation Ltd (NYSE:TNP), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Tsakos Energy Navigation Ltd has been the topic of 7 analyst reports since January 19, 2016 according to StockzIntelligence Inc. Jefferies maintained Tsakos Energy Navigation Ltd. (NYSE:TNP) rating on Wednesday, July 27. Jefferies has “Buy” rating and $7 price target. The rating was maintained by JP Morgan with “Overweight” on Thursday, April 7. The firm earned “Overweight” rating on Tuesday, March 15 by JP Morgan. The stock of Tsakos Energy Navigation Ltd. (NYSE:TNP) earned “Neutral” rating by UBS on Tuesday, July 26. The rating was maintained by Morgan Stanley with “Overweight” on Wednesday, June 1. The firm has “Buy” rating by Seaport Global given on Wednesday, May 4.

According to Zacks Investment Research, “Tsakos Energy Navigation is a leading provider of international seaborne crude oil and petroleum product transportation services. It was incorporated in 1993 as an exempted company under the laws of Bermuda under the name Maritime Investment Fund Limited. In 1996, Maritime Investment Fund Limited was renamed MIF Limited. Their common shares were listed in 1993 on the Oslo Stock Exchange and the Bermuda Stock Exchange although they delisted from the OSE in March 2005 due to limited trading. The Company’s shares are no longer actively traded on the Bermuda exchange. In July 2001, the Company’s name was changed to Tsakos Energy Navigation to enhance their brand recognition in the tanker industry, particularly among charterers.”

More news for Tsakos Energy Navigation Ltd. (NYSE:TNP) were recently published by: Hellenicshippingnews.com, which released: “New Broker Ratings For Tsakos Energy Navigation Ltd” on August 23, 2016. Marketwired.com‘s article titled: “Tsakos Energy Navigation Limited Announces Date of Second Quarter 2016 …” and published on August 01, 2016 is yet another important article.

TNP Company Profile

Tsakos Energy Navigation Limited, incorporated on July 16, 1993, is a well-known provider of international seaborne crude oil and petroleum product transportation services. The Firm operates through maritime transportation of liquid energy related products segment. The Firm 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. The Company’s fleet also includes a liquefied natural gas (LNG) carrier and over two shuttle suezmax tankers with dynamic positioning technology (DP2). Approximately 20 of the operating vessels are of ice-class specification. This fleet diversity includes a range of sister ships. The operating fleet totals approximately 5.2 million deadweight tonnage (dwt), all of which is double-hulled.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment