Bank of New York Mellon Corp Has $27.06 Million Stock Position in Tidewater Inc. $TDW

Bank of New York Mellon Corp boosted its stake in Tidewater Inc. (NYSE:TDW) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 323,869 shares of the oil and gas company’s stock after purchasing an additional 20,472 shares during the quarter. Bank of New York Mellon Corp owned about 0.65% of Tidewater worth $27,059,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Inspire Investing LLC lifted its holdings in shares of Tidewater by 1.2% during the 1st quarter. Inspire Investing LLC now owns 11,332 shares of the oil and gas company’s stock worth $947,000 after acquiring an additional 131 shares during the period. Lido Advisors LLC raised its position 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 valued at $290,000 after purchasing an additional 149 shares in the last quarter. Clearstead Advisors LLC lifted 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 purchasing an additional 158 shares during the last quarter. Parkside Financial Bank & Trust lifted 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 purchasing an additional 166 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Tidewater by 1.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,579 shares of the oil and gas company’s stock valued at $534,000 after purchasing an additional 200 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Trading Up 0.1%

Shares of TDW stock opened at $78.63 on Tuesday. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 13.17 and a beta of 0.53. The stock has a 50-day moving average of $73.12 and a 200-day moving average of $74.52. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48. Tidewater Inc. has a 1-year low of $46.65 and a 1-year high of $93.13.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The company had revenue of $326.22 million for the quarter, compared to the consensus estimate of $322.83 million. During the same quarter last year, the business earned $0.83 earnings per share. Tidewater’s revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Tidewater Inc. will post 3.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TDW shares. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings raised Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Finally, Barclays raised their price target on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $89.33.

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.