Tidewater (NYSE:TDW) Now Covered by Analysts at Johnson Rice

Johnson Rice started coverage on shares of Tidewater (NYSE:TDWGet Free Report) in a research report issued to clients and investors on Friday, Briefing.com reports. The firm set a “buy” rating and a $88.00 price target on the oil and gas company’s stock. Johnson Rice’s price objective indicates a potential upside of 29.60% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. Pickering Energy Partners initiated coverage on Tidewater in a research note on Tuesday, January 30th. They issued an “outperform” rating for the company. StockNews.com cut Tidewater from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.50.

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Tidewater Stock Up 3.8 %

Shares of Tidewater stock opened at $67.90 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.62. Tidewater has a 12 month low of $37.76 and a 12 month high of $77.53. The business has a fifty day simple moving average of $67.10 and a 200 day simple moving average of $65.45. The stock has a market cap of $3.59 billion, a PE ratio of 51.05 and a beta of 1.18.

Tidewater (NYSE:TDWGet Free Report) last posted its earnings results on Monday, November 6th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.68). Tidewater had a net margin of 7.85% and a return on equity of 10.18%. The business had revenue of $299.26 million during the quarter, compared to analyst estimates of $295.05 million. Research analysts predict that Tidewater will post 1.78 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Must Asset Management Inc. acquired a new position in shares of Tidewater during the third quarter worth about $3,588,000. Assenagon Asset Management S.A. raised its holdings in Tidewater by 254.2% during the third quarter. Assenagon Asset Management S.A. now owns 136,798 shares of the oil and gas company’s stock worth $9,722,000 after acquiring an additional 98,173 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Tidewater by 1,514.0% during the third quarter. Victory Capital Management Inc. now owns 258,849 shares of the oil and gas company’s stock worth $18,396,000 after acquiring an additional 242,811 shares in the last quarter. Certuity LLC bought a new stake in Tidewater during the third quarter worth about $4,244,000. Finally, VELA Investment Management LLC raised its holdings in Tidewater by 396.3% during the third quarter. VELA Investment Management LLC now owns 18,998 shares of the oil and gas company’s stock worth $1,350,000 after acquiring an additional 15,170 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

About Tidewater

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Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore crude oil and natural gas exploration, field development, and production, as well as windfarm development and maintenance, 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; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.

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