Tidewater (NYSE:TDW) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Tidewater (NYSE:TDW) from a hold rating to a buy rating in a report released on Thursday morning, Zacks.com reports. They currently have $20.00 target price on the oil and gas company’s stock.

According to Zacks, “Tidewater Inc. provides offshore service vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels. The Company tows and anchor-handles mobile drilling rigs and equipment, transports supplies and personnel, and supports pipe laying and other offshore construction activities. Its operating segment consists of Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. The company serves oil and natural gas exploration, field development, and production companies; independent exploration and production companies; government-owned or government-controlled organizations, and other companies; drilling contractors and other companies. Tidewater Inc. is headquartered in New Orleans, Louisiana. “

Other equities analysts also recently issued reports about the stock. ValuEngine upgraded shares of Tidewater from a buy rating to a strong-buy rating in a report on Thursday, August 1st. TheStreet downgraded shares of Tidewater from a c- rating to a d+ rating in a research note on Friday, October 18th.

Shares of NYSE:TDW traded up $0.20 on Thursday, hitting $17.53. The company had a trading volume of 69,668 shares, compared to its average volume of 189,786. Tidewater has a 1-year low of $13.60 and a 1-year high of $27.39. The stock has a market cap of $663.74 million, a price-to-earnings ratio of -2.72 and a beta of 1.60. The stock has a 50 day moving average price of $15.72 and a 200 day moving average price of $19.54. The company has a current ratio of 4.34, a quick ratio of 4.15 and a debt-to-equity ratio of 0.38.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, August 12th. The oil and gas company reported ($0.42) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.86) by $0.44. Tidewater had a negative net margin of 34.78% and a negative return on equity of 12.46%. The firm had revenue of $125.86 million for the quarter, compared to the consensus estimate of $131.77 million. During the same period in the previous year, the company earned ($0.44) earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. Sell-side analysts anticipate that Tidewater will post -1.54 earnings per share for the current fiscal year.

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In other Tidewater news, Director Kenneth H. Traub purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average cost of $17.67 per share, for a total transaction of $88,350.00. Following the completion of the purchase, the director now owns 27,088 shares of the company’s stock, valued at approximately $478,644.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.47% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC grew its stake in shares of Tidewater by 157.1% in the second quarter. Quantamental Technologies LLC now owns 1,800 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 1,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Tidewater by 75.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,208 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 953 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in Tidewater during the second quarter worth about $70,000. Altshuler Shaham Ltd acquired a new stake in Tidewater during the second quarter worth about $260,000. Finally, Metropolitan Life Insurance Co NY grew its stake in Tidewater by 15.8% during the first quarter. Metropolitan Life Insurance Co NY now owns 9,686 shares of the oil and gas company’s stock worth $224,000 after buying an additional 1,320 shares in the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Tidewater Company Profile

Tidewater Inc provides offshore marine support and transportation services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore exploration, field development, and production, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; and various specialized services, such as pipe and cable laying.

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