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Tsakos Energy Navigation Ltd Down 2.53% To $18.14 After Earnings

Wednesday, September 14, 2022 11:15 AM | InvestorsObserver Analysts
Tsakos Energy Navigation Ltd Down 2.53% To $18.14 After Earnings

Tsakos Energy Navigation Ltd (TNP) said before open Wednesday that it broke even in quarter two 2022.

In the same quarter a year ago, the company lost $1.49 per share on revenue of $136.4 million.

The stock is down 2.53% to $18.14 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Tsakos Energy Navigation Ltd has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 99, putting Tsakos Energy Navigation Ltd in the top 25% of stocks. The firm was recently trading at a 52-week high of $18.8 on September 12, 2022 and set a 52-week low on January 24, 2022 at $6.95.

Tsakos Energy Navigation Ltd is a seaborne transportation service provider for crude oil and petroleum products. The company's carriers cater to national and international independent oil companies and refiners. It generates revenue through charter contracts with its clients, which include time, bareboat and voyage charters, contracts of affreightment, and pool arrangements.

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