Tidewater (NYSE:TDW) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Tidewater (NYSE:TDW) released its quarterly earnings results on Monday. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03), FiscalAI reports. The company had revenue of $342.29 million for the quarter, compared to analysts’ expectations of $329.97 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.

Tidewater Stock Performance

Shares of TDW stock traded down $3.62 during trading hours on Monday, reaching $71.44. 749,106 shares of the company’s stock were exchanged, compared to its average volume of 789,355. The company has a market cap of $3.55 billion, a P/E ratio of 11.97 and a beta of 0.53. The company’s 50 day moving average is $72.47 and its two-hundred day moving average is $75.04. 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 current ratio of 3.33 and a quick ratio of 3.22.

Institutional Trading of Tidewater

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in Tidewater by 701.6% during the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 870 shares during the period. Headlands Technologies LLC acquired a new stake in Tidewater in the second quarter valued at $47,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Tidewater during the 4th quarter worth $53,000. Arax Advisory Partners purchased a new stake in shares of Tidewater during the 4th quarter worth $55,000. Finally, Wexford Capital LP purchased a new stake in shares of Tidewater during the 3rd quarter worth $56,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TDW has been the subject of a number of recent research reports. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Barclays upped their price target on Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Zacks Research downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings lowered shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. One research 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’s stock. Based on data from MarketBeat, Tidewater presently has a consensus rating of “Hold” and an average price target of $89.33.

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.