TIDEWATER INC (TDW) Upgraded to “Buy” at Clarkson Capital
TIDEWATER INC (NYSE:TDW) was upgraded by equities researchers at Clarkson Capital from a “neutral” rating to a “buy” rating in a report issued on Tuesday.
TDW has been the topic of several other reports. Zacks Investment Research downgraded TIDEWATER INC from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. BidaskClub upgraded TIDEWATER INC from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $1.00.
Shares of TIDEWATER INC (NYSE TDW) traded up 1.67% during mid-day trading on Tuesday, hitting $24.90. The company had a trading volume of 10,559 shares. The firm has a 50-day moving average of $25.05 and a 200-day moving average of $7.13. The company’s market cap is $1.17 billion. TIDEWATER INC has a 12 month low of $20.37 and a 12 month high of $29.14.
TIDEWATER INC (NYSE:TDW) last released its earnings results on Monday, June 12th. The oil and gas company reported ($0.94) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.29) by $0.35. The business had revenue of $160.75 million for the quarter, compared to analysts’ expectations of $118.75 million. On average, analysts expect that TIDEWATER INC will post ($157.21) EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in the company. Deltec Asset Management LLC purchased a new position in TIDEWATER INC during the second quarter worth approximately $114,000. Norges Bank purchased a new position in TIDEWATER INC during the fourth quarter worth approximately $119,000. Public Employees Retirement System of Ohio increased its position in TIDEWATER INC by 98.6% in the first quarter. Public Employees Retirement System of Ohio now owns 106,929 shares of the oil and gas company’s stock worth $123,000 after buying an additional 53,093 shares during the period. JPMorgan Chase & Co. increased its position in TIDEWATER INC by 502.8% in the first quarter. JPMorgan Chase & Co. now owns 115,513 shares of the oil and gas company’s stock worth $133,000 after buying an additional 96,350 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in TIDEWATER INC by 339.4% in the first quarter. UBS Asset Management Americas Inc. now owns 135,629 shares of the oil and gas company’s stock worth $156,000 after buying an additional 104,759 shares during the period.
About TIDEWATER INC
Tidewater Inc provides offshore service vessels and marine support services. The Company operates through four segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. Its Americas segment includes the activities of the Company’s North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations of offshore Mexico, Trinidad and Brazil.
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