Econ Financial Services Corp Buys Shares of 15,453 Tidewater Inc. $TDW

Econ Financial Services Corp bought a new position in shares of Tidewater Inc. (NYSE:TDW) in the 1st quarter, HoldingsChannel reports. The fund bought 15,453 shares of the oil and gas company’s stock, valued at approximately $1,291,000.

A number of other institutional investors have also made changes to their positions in the stock. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Tidewater during the 3rd quarter worth approximately $1,920,000. Fulcrum Asset Management LLP raised its position in Tidewater by 226.1% in the third quarter. Fulcrum Asset Management LLP now owns 33,428 shares of the oil and gas company’s stock valued at $1,783,000 after purchasing an additional 23,177 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Tidewater in the fourth quarter valued at approximately $1,036,000. JPMorgan Chase & Co. lifted its stake in Tidewater by 286.0% during the third quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock worth $9,986,000 after purchasing an additional 138,739 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Tidewater during the fourth quarter worth $1,953,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Stock Performance

Shares of TDW stock opened at $66.73 on Friday. The firm has a 50 day moving average of $77.94 and a two-hundred day moving average of $71.42. The stock has a market capitalization of $3.32 billion, a PE ratio of 11.18 and a beta of 0.49. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. Tidewater Inc. has a 52 week low of $45.18 and a 52 week high of $93.13.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). The company had revenue of $326.22 million for the quarter, compared to analysts’ expectations of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The firm’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. On average, research analysts predict that Tidewater Inc. will post 3.52 EPS for the current fiscal year.

Analysts Set New Price Targets

TDW has been the subject of a number of research reports. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Dawson James reissued an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Weiss Ratings cut Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Finally, Raymond James Financial set a $117.00 target price on Tidewater in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.33.

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.