Tidewater (NYSE:TDW) Upgraded to Neutral at Pickering Energy Partners

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

A number of other research analysts have also recently commented on TDW. Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tidewater in a research note on Monday, June 1st. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Dawson James restated an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Finally, Raymond James Financial set a $117.00 price target on Tidewater in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $89.33.

Tidewater Stock Performance

Tidewater stock traded up $2.46 on Thursday, hitting $75.90. The company’s stock had a trading volume of 37,085 shares, compared to its average volume of 789,185. Tidewater has a one year low of $44.11 and a one year high of $93.13. The firm has a market cap of $3.77 billion, a P/E ratio of 12.71 and a beta of 0.49. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average price of $81.99 and a 200-day moving average price of $70.38.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $322.83 million. During the same period in the previous year, the business posted $0.83 earnings per share. Tidewater’s revenue was down 2.2% on a year-over-year basis. On average, equities analysts anticipate that Tidewater will post 3.52 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TDW. Cerity Partners LLC boosted its holdings in shares of Tidewater by 104.3% in 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 acquiring an additional 583,607 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Tidewater in the 4th quarter valued at $21,922,000. American Century Companies Inc. boosted its stake in Tidewater by 74.2% in the third quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock worth $51,698,000 after purchasing an additional 412,911 shares in the last quarter. Keybank National Association OH acquired a new position in Tidewater in the first quarter worth $25,456,000. Finally, Canoe Financial LP bought a new stake in shares of Tidewater during the first quarter worth $22,960,000. Institutional investors own 95.13% of the company’s stock.

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.