Tidewater (NYSE:TDW) Rating Increased to Strong-Buy at Fearnley Fonds

Fearnley Fonds upgraded shares of Tidewater (NYSE:TDW) from a hold rating to a strong-buy rating in a research report released on Friday morning,Zacks.com reports.

TDW has been the topic of a number of other research reports. Barclays lifted their price objective on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tidewater in a research note on Monday. Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Dawson James restated an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Finally, Raymond James Financial set a $117.00 price target on shares of Tidewater in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tidewater has a consensus rating of “Hold” and an average price target of $89.33.

Tidewater Trading Down 2.6%

TDW opened at $72.32 on Friday. The firm has a market capitalization of $3.60 billion, a P/E ratio of 12.11 and a beta of 0.49. The firm’s 50 day moving average is $82.47 and its 200-day moving average is $69.90. Tidewater has a 52-week low of $42.64 and a 52-week high of $93.13. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48.

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

Institutional Trading of Tidewater

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Tidewater by 4.7% in the fourth quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock worth $96,064,000 after buying an additional 85,697 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tidewater by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,838,769 shares of the oil and gas company’s stock worth $153,623,000 after buying an additional 86,084 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Tidewater by 104.3% in the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after buying an additional 583,607 shares during the last quarter. American Century Companies Inc. boosted its holdings 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 during the period. Finally, Hosking Partners LLP boosted its holdings 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 worth $32,871,000 after purchasing an additional 65,875 shares during the period. 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.