Keybank National Association OH Invests $25.46 Million in Tidewater Inc. $TDW

Keybank National Association OH purchased a new position in shares of Tidewater Inc. (NYSE:TDW) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 304,682 shares of the oil and gas company’s stock, valued at approximately $25,456,000. Keybank National Association OH owned about 0.61% of Tidewater at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TDW. Royal Bank of Canada increased its position in Tidewater by 22.6% during the 1st quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock worth $980,000 after buying an additional 4,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Tidewater by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock valued at $1,227,000 after acquiring an additional 1,271 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Tidewater by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock valued at $1,895,000 after acquiring an additional 1,931 shares during the period. Cetera Investment Advisers grew its stake in shares of Tidewater by 4.1% in the second quarter. Cetera Investment Advisers now owns 8,010 shares of the oil and gas company’s stock valued at $370,000 after acquiring an additional 314 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Tidewater by 12.1% in the second quarter. Invesco Ltd. now owns 227,443 shares of the oil and gas company’s stock valued at $10,492,000 after acquiring an additional 24,609 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on TDW shares. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Barclays raised their target price on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Finally, Weiss Ratings downgraded Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $89.33.

Tidewater Stock Down 0.3%

TDW stock opened at $67.94 on Friday. Tidewater Inc. has a 52 week low of $45.71 and a 52 week high of $93.13. The business has a 50-day simple moving average of $76.18 and a 200 day simple moving average of $71.77. 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 market cap of $3.38 billion, a PE ratio of 11.38 and a beta of 0.53.

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