Readystate Asset Management LP Takes Position in Tidewater Inc. $TDW

Readystate Asset Management LP purchased a new position in Tidewater Inc. (NYSE:TDW) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 19,887 shares of the oil and gas company’s stock, valued at approximately $1,662,000.

Other hedge funds have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Tidewater in the fourth quarter valued at $1,036,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Tidewater in the 4th quarter valued at about $1,953,000. Tejara Capital Ltd raised its position in shares of Tidewater by 127.6% in the fourth quarter. Tejara Capital Ltd now owns 44,600 shares of the oil and gas company’s stock valued at $2,253,000 after buying an additional 25,000 shares during the last quarter. SG Americas Securities LLC boosted its position in Tidewater by 581.9% during the fourth quarter. SG Americas Securities LLC now owns 134,738 shares of the oil and gas company’s stock worth $6,806,000 after acquiring an additional 114,980 shares during the last quarter. Finally, Hosking Partners LLP increased its stake in Tidewater by 11.3% in the fourth quarter. Hosking Partners LLP now owns 650,785 shares of the oil and gas company’s stock valued at $32,871,000 after purchasing an additional 65,875 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on TDW. Barclays upped their price objective on Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Weiss Ratings raised shares of Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Finally, Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Tidewater presently has a consensus rating of “Hold” and an average price target of $89.33.

Tidewater Stock Performance

Shares of NYSE:TDW opened at $74.74 on Wednesday. The business’s 50-day simple moving average is $72.94 and its 200 day simple moving average is $74.68. The company has a market cap of $3.72 billion, a P/E ratio of 12.52 and a beta of 0.53. 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 Inc. has a one year low of $46.65 and a one year high of $93.13.

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