Tidewater (NYSE:TDW) Posts Quarterly Earnings Results, Beats Expectations By $3.76 EPS

Tidewater (NYSE:TDW) announced its quarterly earnings data on Monday. The oil and gas company reported $4.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $3.76, FiscalAI reports. Tidewater had a net margin of 11.14% and a return on equity of 14.86%. The firm had revenue of $336.80 million during the quarter, compared to analysts’ expectations of $329.39 million.

Tidewater Trading Up 0.6%

Shares of NYSE TDW traded up $0.45 on Monday, reaching $79.87. 1,012,463 shares of the company traded hands, compared to its average volume of 761,293. The company has a current ratio of 2.89, a quick ratio of 2.79 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $3.96 billion, a PE ratio of 26.89 and a beta of 0.65. Tidewater has a fifty-two week low of $31.17 and a fifty-two week high of $82.00. The company has a 50 day moving average of $61.95 and a 200 day moving average of $57.32.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Evercore cut their target price on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 12th. Raymond James Financial reaffirmed an “outperform” rating on shares of Tidewater in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Finally, Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tidewater presently has a consensus rating of “Hold” and a consensus price target of $67.50.

Insider Activity

In other news, EVP Daniel A. Hudson sold 15,000 shares of the stock in a transaction 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 sale, the executive vice president owned 50,986 shares of the company’s stock, valued at $3,951,415. This represents a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 TDW. Lido Advisors LLC lifted its holdings in Tidewater by 2.8% in the fourth 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 during the last quarter. Parkside Financial Bank & Trust raised its position in shares of 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 during the period. Cetera Investment Advisers lifted its holdings in shares of Tidewater by 4.1% in the 2nd quarter. Cetera Investment Advisers now owns 8,010 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 314 shares during the last quarter. Swiss National Bank boosted its position in Tidewater by 1.7% during the 4th quarter. Swiss National Bank now owns 23,400 shares of the oil and gas company’s stock valued at $1,182,000 after purchasing an additional 400 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Tidewater by 1.1% during the 3rd quarter. Alliancebernstein L.P. now owns 52,886 shares of the oil and gas company’s stock worth $2,820,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds 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.