Analysts Set Tidewater Inc. (NYSE:TDW) PT at $89.33

Shares of Tidewater Inc. (NYSE:TDW) have been given an average rating of “Hold” by the nine research firms that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $89.3333.

TDW has been the topic of a number of research reports. Barclays raised their target price 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. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Weiss Ratings lowered Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Finally, Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th.

Hedge Funds Weigh In On Tidewater

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new stake in Tidewater in the first quarter valued at approximately $26,000. Longview Financial Advisors Inc. acquired a new position in shares of Tidewater during the first quarter worth $54,000. Parallel Advisors LLC boosted its stake in shares of Tidewater by 37.3% in the first quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 208 shares during the period. Clearstead Advisors LLC boosted 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 purchasing an additional 158 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Tidewater by 701.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Tidewater Stock Up 0.8%

Shares of NYSE:TDW opened at $73.63 on Friday. The stock has a 50-day simple moving average of $72.56 and a 200-day simple moving average of $74.91. The stock has a market capitalization of $3.66 billion, a P/E ratio of 12.33 and a beta of 0.53. Tidewater has a 1 year low of $46.65 and a 1 year 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.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.63). Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The business had revenue of $326.22 million during the quarter, compared to analysts’ expectations of $322.83 million. During the same quarter in the previous year, the business posted $0.83 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts forecast that Tidewater will post 3.52 earnings per share for the current year.

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.