According to Zacks, “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. “
Shares of TNP stock traded down $0.01 on Wednesday, reaching $3.12. The company’s stock had a trading volume of 11,592 shares, compared to its average volume of 120,186. The company has a quick ratio of 0.99, a current ratio of 1.06 and a debt-to-equity ratio of 0.94. TSAKOS ENERGY N/SH has a 12-month low of $2.56 and a 12-month high of $3.73. The company has a market capitalization of $262.81 million, a P/E ratio of -4.05 and a beta of 1.32. The stock’s 50 day simple moving average is $2.98 and its 200-day simple moving average is $3.17.
Institutional investors have recently made changes to their positions in the company. Stephens Inc. AR grew its holdings in shares of TSAKOS ENERGY N/SH by 43.3% during the 1st quarter. Stephens Inc. AR now owns 32,348 shares of the shipping company’s stock valued at $100,000 after purchasing an additional 9,778 shares during the last quarter. Foundation Resource Management Inc. lifted its stake in shares of TSAKOS ENERGY N/SH by 0.9% in the 2nd quarter. Foundation Resource Management Inc. now owns 480,816 shares of the shipping company’s stock valued at $1,582,000 after acquiring an additional 4,339 shares during the last quarter. NEXT Financial Group Inc bought a new stake in shares of TSAKOS ENERGY N/SH in the 2nd quarter valued at about $271,000. Envestnet Asset Management Inc. boosted its holdings in TSAKOS ENERGY N/SH by 42.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 24,151 shares of the shipping company’s stock valued at $79,000 after acquiring an additional 7,159 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in TSAKOS ENERGY N/SH by 53.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 114,432 shares of the shipping company’s stock valued at $364,000 after acquiring an additional 40,080 shares during the period. 22.38% of the stock is 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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