Tidewater (NYSE:TDW) Cut to “Hold” at Zacks Research

Tidewater (NYSE:TDW) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

TDW has been the topic of several other research reports. Raymond James Financial set a $117.00 target price on Tidewater in a research report on Tuesday, March 3rd. Barclays upped their price objective 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, Dawson James reaffirmed an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $89.33.

Tidewater Stock Performance

NYSE TDW opened at $84.51 on Tuesday. The company has a market cap of $4.20 billion, a P/E ratio of 14.16 and a beta of 0.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33. The business’s 50 day moving average price is $82.41 and its 200-day moving average price is $68.15. Tidewater has a fifty-two week low of $38.24 and a fifty-two week high of $93.13.

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

Insider Transactions at Tidewater

In related news, EVP Daniel A. Hudson sold 5,195 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.56, for a total transaction of $418,509.20. Following the sale, the executive vice president owned 45,971 shares of the company’s stock, valued at $3,703,423.76. This trade represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samuel R. Rubio sold 22,461 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.05, for a total value of $1,798,003.05. Following the sale, the executive vice president directly owned 60,066 shares in the company, valued at approximately $4,808,283.30. The trade was a 27.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 42,656 shares of company stock worth $3,379,012. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tidewater

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. bought a new stake in Tidewater during the first quarter valued at about $26,000. Blume Capital Management Inc. boosted its position in Tidewater by 128.3% during the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Tidewater by 401.0% during the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 413 shares in the last quarter. Clearstead Advisors LLC boosted its position in Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 158 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Tidewater by 701.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 870 shares during the last quarter. Institutional investors 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.