Tidewater (NYSE:TDW) Upgraded at Zacks Research

Tidewater (NYSE:TDW) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages also recently commented on TDW. Dawson James restated an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Raymond James Financial set a $117.00 target price on Tidewater in a research note on Tuesday, March 3rd. Finally, Barclays began coverage on Tidewater in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $80.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.33.

Tidewater Stock Performance

Shares of TDW stock opened at $83.79 on Monday. The company has a quick ratio of 2.78, a current ratio of 2.90 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $79.38 and a two-hundred day moving average of $63.53. Tidewater has a 52 week low of $32.64 and a 52 week high of $89.00. The company has a market cap of $4.15 billion, a P/E ratio of 12.54 and a beta of 0.56.

Tidewater (NYSE:TDW) last issued its earnings results on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $3.64. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The company had revenue of $336.80 million during the quarter, compared to the consensus estimate of $329.39 million. During the same period in the previous year, the firm posted $0.70 earnings per share. Tidewater’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, analysts anticipate that Tidewater will post 4.04 EPS for the current year.

Insider Activity at Tidewater

In other news, EVP Samuel R. Rubio sold 22,461 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the completion of the transaction, the executive vice president directly owned 60,066 shares in the company, valued at approximately $4,808,283.30. The trade was a 27.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel A. Hudson sold 15,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the completion of the transaction, the executive vice president owned 50,986 shares of the company’s stock, valued at $3,951,415. This trade represents a 22.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 52,656 shares of company stock valued at $4,079,112. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Tidewater

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TDW. Blue Trust Inc. bought a new position in Tidewater during the 1st quarter valued at $26,000. Blume Capital Management Inc. boosted its stake in Tidewater by 128.3% during the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Tidewater by 401.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 413 shares in the last quarter. Clearstead Advisors LLC boosted its stake in Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 158 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Tidewater by 701.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

About Tidewater

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.