Tidewater (NYSE:TDW) Shares Up 11.3% – What’s Next?

Tidewater Inc. (NYSE:TDW)’s stock price rose 11.3% during mid-day trading on Tuesday . The stock traded as high as $79.96 and last traded at $79.5590. Approximately 248,728 shares were traded during trading, a decline of 68% from the average session volume of 785,333 shares. The stock had previously closed at $71.48.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TDW. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings lowered Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Barclays increased their target price on Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Tidewater currently has an average rating of “Hold” and an average price target of $89.33.

Tidewater Stock Performance

The company’s 50-day simple moving average is $72.46 and its 200-day simple moving average is $75.45. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 16.16 and a beta of 0.53. The company has a current ratio of 3.58, a quick ratio of 3.22 and a debt-to-equity ratio of 0.47.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The business had revenue of $342.29 million for the quarter, compared to analyst estimates of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.Tidewater’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. On average, analysts expect that Tidewater Inc. will post 3.52 EPS for the current year.

Institutional Investors Weigh In On Tidewater

Several institutional investors and hedge funds have recently made changes to their positions in TDW. Cerity Partners LLC grew its position in shares of Tidewater by 104.3% during the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after buying an additional 583,607 shares during the period. Keybank National Association OH bought a new position in shares of Tidewater in the first quarter valued at $25,456,000. Canoe Financial LP acquired a new position in shares of Tidewater during the first quarter valued at about $22,960,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its holdings in shares of Tidewater by 631.6% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 282,838 shares of the oil and gas company’s stock valued at $23,631,000 after buying an additional 244,178 shares during the last quarter. Finally, SummitTX Capital L.P. bought a new stake in shares of Tidewater during the fourth quarter worth about $11,403,000. 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.