Shares of Tidewater Inc. (NYSE:TDW – Get Free Report) were down 6.1% during trading on Thursday . The stock traded as low as $63.53 and last traded at $63.5550. Approximately 263,998 shares were traded during trading, a decline of 67% from the average daily volume of 790,671 shares. The stock had previously closed at $67.71.
Wall Street Analyst Weigh In
Several analysts have commented on TDW shares. Dawson James restated an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Raymond James Financial set a $117.00 target price on shares of Tidewater in a report on Tuesday, March 3rd. Zacks Research downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.33.
Check Out Our Latest Stock Analysis on TDW
Tidewater Stock Down 6.1%
Tidewater (NYSE:TDW – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.63). The business had revenue of $326.22 million for the quarter, compared to the consensus estimate of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.Tidewater’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 earnings per share. Equities research analysts forecast that Tidewater Inc. will post 3.52 EPS for the current year.
Hedge Funds Weigh In On Tidewater
Hedge funds have recently made changes to their positions in the business. Gordian Capital Singapore Pte Ltd bought a new position in shares of Tidewater during the 3rd quarter worth approximately $1,920,000. Fulcrum Asset Management LLP grew its stake in shares of Tidewater by 226.1% during the 3rd quarter. Fulcrum Asset Management LLP now owns 33,428 shares of the oil and gas company’s stock worth $1,783,000 after acquiring an additional 23,177 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Tidewater during the 4th quarter worth approximately $1,036,000. JPMorgan Chase & Co. grew its stake in shares of Tidewater by 286.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock worth $9,986,000 after acquiring an additional 138,739 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Tidewater in the fourth quarter valued at $1,953,000. 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.
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