Tidewater (NYSE:TDW) Issues Earnings Results

Tidewater (NYSE:TDW) issued its quarterly earnings results on Monday. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $3.76, FiscalAI reports. Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The firm had revenue of $336.80 million during the quarter, compared to analyst estimates of $329.39 million.

Tidewater Stock Up 0.6%

NYSE:TDW traded up $0.45 during mid-day trading on Monday, reaching $79.87. The stock had a trading volume of 1,011,248 shares, compared to its average volume of 761,293. The stock has a market cap of $3.96 billion, a P/E ratio of 26.89 and a beta of 0.65. The business’s 50 day moving average is $61.95 and its 200 day moving average is $57.32. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79. Tidewater has a fifty-two week low of $31.17 and a fifty-two week high of $82.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Raymond James Financial reissued an “outperform” rating on shares of Tidewater in a report on Monday, February 23rd. Evercore cut their price target on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a report on Wednesday, November 12th. Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.50.

Insider Buying and Selling

In other news, EVP Daniel A. Hudson sold 15,000 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the transaction, the executive vice president owned 50,986 shares in the company, valued at $3,951,415. This represents a 22.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in Tidewater by 701.6% during the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Tidewater in the 2nd quarter valued at $47,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Tidewater in the 4th quarter worth about $53,000. Arax Advisory Partners bought a new stake in Tidewater during the fourth quarter worth about $55,000. Finally, Wexford Capital LP bought a new stake in Tidewater during the third quarter worth about $56,000. 95.13% of the stock is owned by institutional investors.

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.