Tidewater (NYSE:TDW) Posts Earnings Results, Beats Expectations By $3.64 EPS

Tidewater (NYSE:TDW) posted its quarterly earnings data on Monday. The oil and gas company reported $4.41 EPS for the quarter, beating the consensus estimate of $0.77 by $3.64, FiscalAI reports. 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 14.86% and a net margin of 11.14%.The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS.

Tidewater Trading Up 0.6%

Tidewater stock opened at $79.87 on Tuesday. Tidewater has a 12-month low of $31.17 and a 12-month high of $82.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79. The stock has a market capitalization of $3.96 billion, a PE ratio of 26.89 and a beta of 0.57. The firm has a 50 day simple moving average of $62.53 and a 200-day simple moving average of $57.49.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TDW shares. Evercore dropped their price objective on Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a research note on Wednesday, November 12th. Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Raymond James Financial restated an “outperform” rating on shares of Tidewater in a research report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.50.

Insider Transactions at Tidewater

In related news, EVP Daniel A. Hudson sold 15,000 shares of Tidewater stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the transaction, the executive vice president directly owned 50,986 shares of the company’s stock, valued at $3,951,415. The trade was a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.60% of the company’s stock.

Institutional Trading of Tidewater

Institutional investors and hedge funds have recently bought and sold shares of the stock. SummitTX Capital L.P. purchased a new position in Tidewater during the fourth quarter valued at approximately $11,403,000. Ameriprise Financial Inc. grew its holdings in shares of Tidewater by 159.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 358,563 shares of the oil and gas company’s stock valued at $16,541,000 after acquiring an additional 220,473 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tidewater by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,752,685 shares of the oil and gas company’s stock worth $88,529,000 after acquiring an additional 215,145 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Tidewater during the second quarter worth $5,884,000. Finally, Freestone Grove Partners LP boosted its position in Tidewater by 690.5% during the fourth quarter. Freestone Grove Partners LP now owns 114,334 shares of the oil and gas company’s stock valued at $5,775,000 after purchasing an additional 99,871 shares during the last quarter. Institutional investors and hedge funds 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.