Tsakos Energy Navigation Ltd (NYSE:TNP) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 1,196,542 shares, a decrease of 30.4% from the August 31st total of 1,719,641 shares. Currently, 2.1% of the company’s stock are sold short. Based on an average daily volume of 280,271 shares, the days-to-cover ratio is presently 4.3 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WFG Advisors LP grew its position in Tsakos Energy Navigation by 0.3% in the 2nd quarter. WFG Advisors LP now owns 51,763 shares of the shipping company’s stock worth $248,000 after purchasing an additional 156 shares during the last quarter. Afam Capital Inc. raised its position in shares of Tsakos Energy Navigation by 69.8% during the second quarter. Afam Capital Inc. now owns 540,084 shares of the shipping company’s stock valued at $2,592,000 after buying an additional 221,995 shares during the last quarter. State Street Corp raised its position in shares of Tsakos Energy Navigation by 15.7% during the second quarter. State Street Corp now owns 112,100 shares of the shipping company’s stock valued at $538,000 after buying an additional 15,231 shares during the last quarter. Stifel Financial Corp raised its position in shares of Tsakos Energy Navigation by 4.4% during the second quarter. Stifel Financial Corp now owns 264,892 shares of the shipping company’s stock valued at $1,273,000 after buying an additional 11,238 shares during the last quarter. Finally, Virtu KCG Holdings LLC raised its position in shares of Tsakos Energy Navigation by 65.2% during the second quarter. Virtu KCG Holdings LLC now owns 52,120 shares of the shipping company’s stock valued at $250,000 after buying an additional 20,577 shares during the last quarter. Institutional investors own 25.98% of the company’s stock.

Shares of Tsakos Energy Navigation (TNP) opened at 4.64 on Wednesday. The company has a 50 day moving average of $4.49 and a 200-day moving average of $4.63. The company has a market cap of $391.08 million, a price-to-earnings ratio of 23.55 and a beta of 1.70. Tsakos Energy Navigation has a 52 week low of $3.92 and a 52 week high of $5.28.

Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings results on Friday, September 15th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.08). The business had revenue of $104.06 million during the quarter, compared to analyst estimates of $108.51 million. Tsakos Energy Navigation had a net margin of 6.86% and a return on equity of 2.48%. On average, equities research analysts expect that Tsakos Energy Navigation will post $0.18 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Thursday, November 9th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 4.31%. The ex-dividend date is Wednesday, November 8th. Tsakos Energy Navigation’s payout ratio is currently 95.24%.

TNP has been the topic of several analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of Tsakos Energy Navigation in a research note on Tuesday, July 4th. BidaskClub upgraded shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Morgan Stanley decreased their price objective on shares of Tsakos Energy Navigation from $6.00 to $5.50 and set an “overweight” rating for the company in a research report on Monday, September 18th. Maxim Group reissued a “buy” rating and issued a $6.00 price objective on shares of Tsakos Energy Navigation in a research report on Monday, September 18th. Finally, Cowen and Company lowered their target price on Tsakos Energy Navigation from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $5.57.

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Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd is a provider of international seaborne crude oil and petroleum product transportation services. The Company operates through maritime transportation of liquid energy related products segment. It operates a fleet of approximately 57 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.

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