Tidewater (NYSE:TDW) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Tidewater (NYSE:TDW) from a "hold" to a "strong-buy" rating in a report released Monday.
• Tidewater posted a major quarterly beat with $4.41 EPS versus $0.77 expected and revenue of $336.8M (vs. $329.4M consensus), and analysts forecast about 4.04 EPS for the current fiscal year.
• Insiders sold 52,656 shares worth roughly $4.08M over the last three months, while institutional investors own about 95% of the company’s shares.

Tidewater (NYSE:TDW - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Barclays initiated coverage on Tidewater in a research note on Wednesday, April 1st. They issued an "equal weight" rating and a $80.00 price target on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Tidewater in a research note on Monday, December 29th. Dawson James reiterated 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 Tidewater in a research note on Tuesday, March 3rd. One investment 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $87.33.

Tidewater Stock Down 1.4%

Shares of NYSE TDW opened at $83.79 on Monday. Tidewater has a 12-month low of $32.64 and a 12-month high of $89.00. The company has a market cap of $4.15 billion, a P/E ratio of 12.54 and a beta of 0.56. The company has a current ratio of 2.90, a quick ratio of 2.78 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average price of $79.38 and a 200 day moving average price of $63.53.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $3.64. The firm had revenue of $336.80 million during the quarter, compared to the consensus estimate of $329.39 million. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The firm's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 EPS. Research analysts anticipate that Tidewater will post 4.04 EPS for the current fiscal year.

Insider Activity

In related news, EVP Daniel A. Hudson sold 5,195 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.56, for a total value of $418,509.20. Following the completion of the sale, the executive vice president directly owned 45,971 shares of the company's stock, valued at $3,703,423.76. The trade was a 10.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Samuel R. Rubio sold 22,461 shares of the business'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 completion of the sale, the executive vice president directly owned 60,066 shares of the company's stock, valued at approximately $4,808,283.30. This represents a 27.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 52,656 shares of company stock valued at $4,079,112. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Tidewater

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lido Advisors LLC increased its holdings in Tidewater by 2.8% in the fourth quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company's stock valued at $290,000 after buying an additional 149 shares during the last quarter. Clearstead Advisors LLC increased its holdings in Tidewater by 22.2% in the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company's stock valued at $44,000 after buying an additional 158 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Tidewater by 15.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,239 shares of the oil and gas company's stock valued at $63,000 after buying an additional 166 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Tidewater by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,579 shares of the oil and gas company's stock valued at $534,000 after buying an additional 200 shares during the last quarter. Finally, Manatuck Hill Partners LLC increased its holdings in Tidewater by 5.1% in the fourth quarter. Manatuck Hill Partners LLC now owns 4,100 shares of the oil and gas company's stock valued at $207,000 after buying an additional 200 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

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.

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