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 21, 2022, it operated a fleet of 66 double-hull vessels, comprising of 60 conventional tankers, three LNG carriers, and three suezmax DP2 shuttle tankers. The company was formerly known as MIF Limited and changed its name to Tsakos Energy Navigation Limited in July 2001. Tsakos Energy Navigation Limited was incorporated in 1993 and is based in Athens, Greece.
Tsakos Energy Navigation Price Performance
TNP Stock traded down $0.21 during midday trading on Friday, hitting $14.04. The stock had a trading volume of 1,972 shares, compared to its average volume of 191,678. The company has a quick ratio of 0.65, a current ratio of 0.72 and a debt-to-equity ratio of 0.94. Tsakos Energy Navigation has a 12-month low of $6.75 and a 12-month high of $15.34. The company's 50-day moving average price is $10.56 and its 200 day moving average price is $9.98.
Tsakos Energy Navigation (NYSE:TNP - Get Rating) last released its earnings results on Thursday, June 30th. The shipping company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.09. The firm had revenue of $101.50 million during the quarter, compared to analysts' expectations of $117.71 million. Tsakos Energy Navigation had a negative net margin of 25.33% and a negative return on equity of 3.72%. During the same period in the previous year, the company earned ($0.80) EPS. Analysts anticipate that Tsakos Energy Navigation will post 4.43 earnings per share for the current fiscal year.
Tsakos Energy Navigation Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 20th. Shareholders of record on Thursday, July 14th were issued a $0.10 dividend. The ex-dividend date was Wednesday, July 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.85%. Tsakos Energy Navigation's dividend payout ratio (DPR) is presently -4.77%.
Analyst Ratings Changes
A number of research analysts have recently weighed in on TNP shares. HC Wainwright reissued a "buy" rating and set a $18.00 price objective on shares of Tsakos Energy Navigation in a research note on Monday, April 18th. Jefferies Financial Group started coverage on shares of Tsakos Energy Navigation in a research note on Wednesday, July 20th. They set a "hold" rating and a $12.00 price objective for the company. Finally, StockNews.com raised shares of Tsakos Energy Navigation from a "sell" rating to a "hold" rating in a research note on Friday, July 1st.