Pickering Energy Partners Upgrades Tidewater (NYSE:TDW) to Neutral

Tidewater (NYSE:TDW) was upgraded by equities research analysts at Pickering Energy Partners from an “underperform” rating to a “neutral” rating in a report released on Thursday, MarketBeat.com reports.

Several other equities analysts also recently commented on TDW. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tidewater in a research note on Monday, June 1st. Raymond James Financial set a $117.00 target price on shares of Tidewater in a report on Tuesday, March 3rd. Dawson James restated an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Finally, Barclays raised their price target on Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Tidewater presently has an average rating of “Hold” and an average target price of $89.33.

Tidewater Stock Up 3.3%

NYSE TDW traded up $2.46 during trading on Thursday, hitting $75.90. 37,085 shares of the company traded hands, compared to its average volume of 789,185. Tidewater has a 12 month low of $44.11 and a 12 month high of $93.13. The business has a fifty day simple moving average of $81.99 and a 200 day simple moving average of $70.38. The company has a market capitalization of $3.77 billion, a P/E ratio of 12.71 and a beta of 0.49. 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 (NYSE:TDW) last released its quarterly earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) 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 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 company posted $0.83 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Tidewater will post 3.52 EPS for the current year.

Hedge Funds Weigh In On Tidewater

Several large investors have recently bought and sold shares of TDW. Blue Trust Inc. acquired a new stake in Tidewater in the 1st quarter worth $26,000. Hantz Financial Services Inc. lifted its stake in shares of Tidewater by 401.0% in the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 413 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Tidewater by 22.2% in the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 158 shares during the period. EverSource Wealth Advisors LLC grew its position in Tidewater by 701.6% during the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after buying an additional 870 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Tidewater during the second quarter worth about $47,000. 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.