Tidewater (NYSE:TDW) Upgraded at Zacks Research

Zacks Research upgraded shares of Tidewater (NYSE:TDW) from a hold rating to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. Barclays started coverage on Tidewater in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $80.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Dawson James reaffirmed an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Finally, Raymond James Financial set a $117.00 price target on Tidewater in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.33.

Tidewater Trading Up 2.1%

Shares of TDW stock opened at $85.63 on Monday. The stock’s fifty day moving average is $79.67 and its two-hundred day moving average is $63.69. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.78 and a current ratio of 2.90. The firm has a market capitalization of $4.25 billion, a P/E ratio of 12.82 and a beta of 0.56. Tidewater has a fifty-two week low of $33.38 and a fifty-two week high of $89.00.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share 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 for the quarter, compared to analyst estimates of $329.39 million. During the same quarter last year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Research analysts expect that Tidewater will post 4.04 earnings per share for the current fiscal year.

Insider Activity at Tidewater

In other Tidewater news, EVP Samuel R. Rubio sold 22,461 shares of the firm’s stock in a transaction 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 sale, the executive vice president owned 60,066 shares of the company’s stock, valued at $4,808,283.30. This trade represents a 27.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel A. Hudson sold 5,195 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.56, for a total value of $418,509.20. Following the sale, the executive vice president directly owned 45,971 shares of the company’s stock, valued at approximately $3,703,423.76. This trade represents a 10.15% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 52,656 shares of company stock valued at $4,079,112. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Tidewater

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lido Advisors LLC increased its stake in Tidewater by 2.8% during the fourth quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock worth $290,000 after acquiring an additional 149 shares during the last quarter. Clearstead Advisors LLC increased its stake in Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 158 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Tidewater by 15.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,239 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 166 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Tidewater by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,579 shares of the oil and gas company’s stock worth $534,000 after acquiring an additional 200 shares during the last quarter. Finally, Manatuck Hill Partners LLC increased its stake in Tidewater by 5.1% during the fourth quarter. Manatuck Hill Partners LLC now owns 4,100 shares of the oil and gas company’s stock worth $207,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Company Profile

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.