Tidewater Inc (TDW) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of Tidewater Inc (NYSE:TDW) from a strong sell rating to a sell rating in a report published on Saturday, August 5th.

Separately, Zacks Investment Research upgraded shares of Tidewater from a hold rating to a buy rating and set a $0.75 price objective on the stock in a research report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $1.00.

Shares of Tidewater (NYSE:TDW) traded up 9.03% on Friday, hitting $24.15. The company’s stock had a trading volume of 53,956 shares. The company’s market cap is $1.14 billion. The stock’s 50 day moving average is $26.33 and its 200-day moving average is $7.52. Tidewater has a 52 week low of $20.37 and a 52 week high of $29.14.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Monday, June 12th. The oil and gas company reported ($0.94) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.35. The firm had revenue of $160.75 million for the quarter, compared to analysts’ expectations of $118.75 million. On average, equities research analysts anticipate that Tidewater will post ($143.64) earnings per share for the current year.

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Institutional investors have recently bought and sold shares of the stock. Comerica Bank boosted its position in Tidewater by 4.9% in the fourth quarter. Comerica Bank now owns 49,458 shares of the oil and gas company’s stock valued at $127,000 after buying an additional 2,315 shares in the last quarter. State Street Corp boosted its position in Tidewater by 1.1% in the fourth quarter. State Street Corp now owns 1,161,875 shares of the oil and gas company’s stock valued at $3,958,000 after buying an additional 12,351 shares in the last quarter. Guggenheim Capital LLC boosted its position in Tidewater by 226.3% in the fourth quarter. Guggenheim Capital LLC now owns 437,794 shares of the oil and gas company’s stock valued at $1,492,000 after buying an additional 303,622 shares in the last quarter. AQR Capital Management LLC bought a new position in Tidewater during the fourth quarter valued at approximately $985,000. Finally, Norges Bank bought a new position in Tidewater during the fourth quarter valued at approximately $119,000.

About Tidewater

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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