Tidewater (NYSE:TDW) Stock Rating Upgraded by 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 research report issued on Monday,Zacks.com reports.

TDW has been the subject of several other research reports. Dawson James reiterated 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 report on Monday, December 29th. Barclays began coverage on shares of Tidewater in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $80.00 target price for the company. Finally, Raymond James Financial set a $117.00 target price on shares of Tidewater in a research report on Tuesday, March 3rd. One 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 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

Tidewater stock traded up $1.15 during midday trading on Monday, hitting $85.02. The company’s stock had a trading volume of 141,755 shares, compared to its average volume of 804,220. Tidewater has a 1-year low of $33.38 and a 1-year high of $89.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.90 and a quick ratio of 2.78. The company has a 50-day moving average price of $79.38 and a two-hundred day moving average price of $63.53. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 12.75 and a beta of 0.56.

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

Insider Activity at Tidewater

In other news, EVP Daniel A. Hudson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $77.50, for a total value of $1,162,500.00. Following the completion of the transaction, the executive vice president directly owned 50,986 shares in the company, valued at approximately $3,951,415. The trade was a 22.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Samuel R. Rubio sold 22,461 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were 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 owned 60,066 shares of the company’s stock, valued at $4,808,283.30. The trade was a 27.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 52,656 shares of company stock valued at $4,079,112 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Tidewater

A number of institutional investors have recently added to or reduced their stakes in the stock. Lido Advisors LLC increased its position in Tidewater by 2.8% during the 4th quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock worth $290,000 after purchasing an additional 149 shares in the last quarter. Clearstead Advisors LLC increased its position in Tidewater by 22.2% during the 4th 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 in the last quarter. Parkside Financial Bank & Trust increased its position in Tidewater by 15.5% during the 4th 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 in the last quarter. Oregon Public Employees Retirement Fund increased its position in Tidewater by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,579 shares of the oil and gas company’s stock worth $534,000 after purchasing an additional 200 shares in the last quarter. Finally, Manatuck Hill Partners LLC increased its position in Tidewater by 5.1% during the 4th quarter. Manatuck Hill Partners LLC now owns 4,100 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 200 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.