Fearnley Fonds Upgrades Tidewater (NYSE:TDW) to “Strong-Buy”

Tidewater (NYSE:TDW) was upgraded by analysts at Fearnley Fonds from a “hold” rating to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tidewater in a report on Monday. Dawson James reiterated an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Barclays increased their price objective on Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Finally, Raymond James Financial set a $117.00 target price on Tidewater in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $89.33.

Tidewater Trading Down 2.6%

NYSE TDW opened at $72.32 on Friday. Tidewater has a fifty-two week low of $42.64 and a fifty-two week high of $93.13. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33. The stock has a 50 day simple moving average of $82.47 and a two-hundred day simple moving average of $69.90. The stock has a market cap of $3.60 billion, a P/E ratio of 12.11 and a beta of 0.49.

Tidewater (NYSE:TDW) last released its quarterly earnings data 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). Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The business had revenue of $326.22 million during the quarter, compared to analysts’ expectations of $322.83 million. During the same quarter last year, the business posted $0.83 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts forecast that Tidewater will post 3.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Inspire Investing LLC raised its position in shares of Tidewater by 1.2% in 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 in the last quarter. Lido Advisors LLC raised its position in shares of Tidewater by 2.8% in the 4th 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 in the last quarter. Clearstead Advisors LLC raised its position in shares of Tidewater by 22.2% in the 4th 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 in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Tidewater by 15.5% in the 4th 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 in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position 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 worth $534,000 after acquiring an additional 200 shares in the last quarter. Institutional investors 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.