TSAKOS ENERGY N/SH (NYSE:TNP) Sees Significant Drop in Short Interest

TSAKOS ENERGY N/SH (NYSE:TNP) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 229,900 shares, a decrease of 12.9% from the July 31st total of 263,800 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 174,300 shares, the days-to-cover ratio is currently 1.3 days.

Shares of TSAKOS ENERGY N/SH stock traded down $0.08 during trading on Friday, hitting $3.02. The company’s stock had a trading volume of 112,616 shares, compared to its average volume of 130,509. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.99 and a current ratio of 1.06. The company has a fifty day simple moving average of $2.98 and a two-hundred day simple moving average of $3.17. The company has a market capitalization of $267.21 million, a PE ratio of -3.92 and a beta of 1.32. TSAKOS ENERGY N/SH has a 52 week low of $2.56 and a 52 week high of $3.73.

TSAKOS ENERGY N/SH (NYSE:TNP) last issued its quarterly earnings results on Friday, September 6th. The shipping company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). The business had revenue of $108.83 million during the quarter, compared to the consensus estimate of $99.61 million. TSAKOS ENERGY N/SH had a negative return on equity of 0.02% and a negative net margin of 11.59%. As a group, analysts predict that TSAKOS ENERGY N/SH will post -0.12 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new position in shares of TSAKOS ENERGY N/SH in the 2nd quarter worth about $45,000. Wolverine Trading LLC increased its stake in shares of TSAKOS ENERGY N/SH by 49.4% in the 2nd quarter. Wolverine Trading LLC now owns 17,945 shares of the shipping company’s stock worth $59,000 after acquiring an additional 5,931 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of TSAKOS ENERGY N/SH in the 2nd quarter worth about $69,000. Envestnet Asset Management Inc. increased its stake in shares of TSAKOS ENERGY N/SH by 42.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 24,151 shares of the shipping company’s stock worth $79,000 after acquiring an additional 7,159 shares in the last quarter. Finally, Stephens Inc. AR increased its stake in shares of TSAKOS ENERGY N/SH by 43.3% in the 1st quarter. Stephens Inc. AR now owns 32,348 shares of the shipping company’s stock worth $100,000 after acquiring an additional 9,778 shares in the last quarter. Institutional investors own 22.38% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of TSAKOS ENERGY N/SH from a “sell” rating to a “hold” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. TSAKOS ENERGY N/SH currently has an average rating of “Buy” and a consensus target price of $3.83.

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.

Further Reading: What is Cost of Goods Sold (COGS)?

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