Tsakos Energy Navigation Ltd (TNP) : Analyst Rating Update

Tsakos Energy Navigation Ltd (TNP) : 6 brokerage houses believe that Tsakos Energy Navigation Ltd (TNP) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 7 Wall Street Analysts endorse the stock as a Strong Buy with a rating of 1.07.

Tsakos Energy Navigation Ltd (TNP) : Average target price received by Tsakos Energy Navigation Ltd (TNP) is $10.17 with an expected standard deviation of $1.72. The most aggressive target on the stock is $13, whereas the most downbeat target is $8. 6 financial analysts are currently covering the stock.

Tsakos Energy Navigation Ltd (NYSE:TNP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.76 and $4.64 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.01. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.95, notching a gain of 3.99% for the day. The total traded volume was 1,679,044 . The stock had closed at $4.76 on the previous day.

Also, Equity Analysts at the Brokerage Firm, Morgan Stanley, maintains their rating on the shares of Tsakos Energy Navigation Ltd (NYSE:TNP). Morgan Stanley has a Overweight rating on the shares. As per the latest research report, the brokerage house lowers the price target to $8 per share from a prior target of $8.5. The rating by the firm was issued on June 1, 2016. The company shares have dropped -47.69% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $10.34 and the one year low was seen on Jun 27, 2016. The 50-Day Moving Average price is $5.62 and the 200 Day Moving Average price is recorded at $6.01.

Tsakos Energy Navigation Limited is a provider of international seaborne crude oil and petroleum product transportation services. As of April 8, 2015, the Company operated a fleet of 47 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 Companys fleet also includes one liquefied natural gas (LNG) carrier and two shuttle suezmax tankers with dynamic positioning technology (DP2), as well as VLCC, aframax, panamax, handysize, handymax tankers, and the two DP2 shuttle tankers. Its fleet is managed by Tsakos Energy Management Limited (Tsakos Energy Management). Tsakos Energy Management provides the Company with advisory, financial, accounting and administrative services. Its tanker fleets technical management, including crewing, maintenance and repair, and voyage operations, is subcontracted to Tsakos Columbia Shipmanagement (TCM).

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.