The stock of Tsakos Energy Navigation Ltd. (NYSE:TNP) hit a new 52-week low and has $3.57 target or 11.00% below today’s $4.01 share price. The 6 months bearish chart indicates high risk for the $318.60M company. The 1-year low was reported on Nov, 7 by Barchart.com. If the $3.57 price target is reached, the company will be worth $35.05M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 0.99% or $0.04 on November 7, hitting $4.01. About 434,747 shares traded hands. Tsakos Energy Navigation Ltd. (NYSE:TNP) has declined 29.20% since April 5, 2016 and is downtrending. It has underperformed by 31.15% the S&P500.
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. JP Morgan maintained Tsakos Energy Navigation Ltd. (NYSE:TNP) rating on Tuesday, March 15. JP Morgan has “Overweight” rating and $14 price target. The rating was reinitiated by Seaport Global on Wednesday, May 4 with “Buy”. JP Morgan maintained Tsakos Energy Navigation Ltd. (NYSE:TNP) on Thursday, April 7 with “Overweight” rating. The stock of Tsakos Energy Navigation Ltd. (NYSE:TNP) earned “Buy” rating by Jefferies on Wednesday, July 27. Morgan Stanley maintained the stock with “Overweight” rating in Wednesday, June 1 report. The firm has “Neutral” rating by UBS given on Tuesday, July 26.
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.”
Another recent and important Tsakos Energy Navigation Ltd. (NYSE:TNP) news was published by Hellenicshippingnews.com which published an article titled: “New Broker Ratings For Tsakos Energy Navigation Ltd” on August 23, 2016.
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.
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