Readystate Asset Management LP Invests $1.66 Million in Tidewater Inc. $TDW

Readystate Asset Management LP purchased a new position in Tidewater Inc. (NYSE:TDW) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 19,887 shares of the oil and gas company’s stock, valued at approximately $1,662,000.

A number of other hedge funds have also recently bought and sold shares of the business. Blue Trust Inc. purchased a new stake in Tidewater during the 1st quarter worth approximately $26,000. Clearstead Advisors LLC boosted its stake in shares of Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 158 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Tidewater by 701.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 870 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Tidewater during the second quarter worth approximately $47,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Tidewater in the fourth quarter worth $53,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TDW. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Barclays boosted their target price on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Weiss Ratings raised shares of Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Finally, Zacks Research downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.33.

Tidewater Stock Down 4.8%

NYSE TDW opened at $74.74 on Wednesday. Tidewater Inc. has a 12 month low of $46.65 and a 12 month high of $93.13. The company has a market capitalization of $3.72 billion, a P/E ratio of 12.52 and a beta of 0.53. The company’s 50 day simple moving average is $72.94 and its 200 day simple moving average is $74.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.33 and a quick ratio of 3.22.

Tidewater (NYSE:TDW) last issued its earnings results 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 business had revenue of $326.22 million for the quarter, compared to the consensus estimate of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 earnings per share. Equities research analysts expect that Tidewater Inc. will post 3.52 earnings per share for the current fiscal year.

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.