Tsakos Energy Navigation (TNP)
Rating: BUY
Current Price: $5.92
Price Target: $11.09
Thesis:
We have initiated a position in Tsakos Energy Navigation (TNP) as the shares have declined 9.1% in the last two weeks. Tsakos is a Greek company (Athens) that trades on the New York Stock Exchange. It is a provider of international seaborne crude oil and petroleum product transportation services. Tsakos makes more money when oil prices are low (as they are now), it pays a big dividend (currently 5.4%), and it has a lot of upside potential considering the market is not yet giving it nearly enough credit for its rapidly growing net income. We value Tsakos using a very conservative 6x earnings multiple. You can read our full Tsakos report here.