Zacks Investment Research upgraded shares of Tidewater Inc. (NYSE:TDW) from a hold rating to a buy rating in a research note issued to investors on Thursday, July 13th. They currently have $0.75 price target on the oil and gas company’s stock.

According to Zacks, “Tidewater, Inc. owns and operates one of the world’s largest fleets serving the international offshore energy industry. Tidewater vessels can be found in virtually every area of the world where there is significant oil and gas exploration, development or production. These provide a wide range of services including: transporting crews and supplies between the mainland and offshore locations; towing and positioning mobile drilling rigs; assisting in offshore construction projects; and a variety of specialized services including cable laying and 3-D seismic work. “

Tidewater (NYSE TDW) traded down 0.36% during mid-day trading on Thursday, reaching $25.14. 74,764 shares of the company traded hands. The company’s 50 day moving average price is $27.16 and its 200 day moving average price is $35.08. Tidewater has a 12-month low of $20.37 and a 12-month high of $29.14. The firm’s market capitalization is $1.18 billion.

Tidewater (NYSE:TDW) last issued its earnings results on Monday, June 12th. The oil and gas company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.35. The business had revenue of $160.75 million during the quarter, compared to the consensus estimate of $118.75 million. Tidewater had a negative return on equity of 6.16% and a negative net margin of 109.72%. Equities research analysts predict that Tidewater will post ($169.67) EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in TDW. Janney Montgomery Scott LLC increased its position in Tidewater by 3.3% in the second quarter. Janney Montgomery Scott LLC now owns 1,474,304 shares of the oil and gas company’s stock valued at $1,061,000 after buying an additional 46,532 shares during the last quarter. Deltec Asset Management LLC purchased a new position in Tidewater during the second quarter valued at $114,000. Public Employees Retirement System of Ohio increased its position in Tidewater by 98.6% in the first quarter. Public Employees Retirement System of Ohio now owns 106,929 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 53,093 shares during the last quarter. Bank of America Corp DE increased its position in Tidewater by 30.1% in the first quarter. Bank of America Corp DE now owns 365,137 shares of the oil and gas company’s stock valued at $419,000 after buying an additional 84,428 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Tidewater by 8.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,509,791 shares of the oil and gas company’s stock valued at $1,737,000 after buying an additional 112,779 shares during the last quarter. 77.87% of the stock is owned by hedge funds and other institutional investors.

Tidewater Company Profile

Tidewater Inc provides offshore service vessels and marine support services. The Company operates through four segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. Its Americas segment includes the activities of the Company’s North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations of offshore Mexico, Trinidad and Brazil.

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