Econ Financial Services Corp Invests $1.29 Million in Tidewater Inc. $TDW

Econ Financial Services Corp purchased a new position in shares of Tidewater Inc. (NYSE:TDW) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,453 shares of the oil and gas company’s stock, valued at approximately $1,291,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Tidewater by 4.7% in the fourth quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock valued at $96,064,000 after buying an additional 85,697 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Tidewater by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,752,685 shares of the oil and gas company’s stock valued at $88,529,000 after acquiring an additional 215,145 shares in the last quarter. Cerity Partners LLC raised its holdings in Tidewater by 104.3% in the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock valued at $57,730,000 after acquiring an additional 583,607 shares during the last quarter. American Century Companies Inc. raised its holdings in Tidewater by 74.2% in the 3rd quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock valued at $51,698,000 after acquiring an additional 412,911 shares during the last quarter. Finally, Hosking Partners LLP lifted its stake in Tidewater by 11.3% in the 4th quarter. Hosking Partners LLP now owns 650,785 shares of the oil and gas company’s stock worth $32,871,000 after purchasing an additional 65,875 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Barclays boosted their price objective on Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Raymond James Financial set a $117.00 target price on Tidewater in a report on Tuesday, March 3rd. Finally, Weiss Ratings downgraded Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Tidewater presently has a consensus rating of “Hold” and an average target price of $89.33.

Tidewater Stock Up 1.5%

Shares of NYSE TDW opened at $66.73 on Friday. The company has a market capitalization of $3.32 billion, a P/E ratio of 11.18 and a beta of 0.49. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.33 and a quick ratio of 3.22. The company has a 50 day simple moving average of $77.94 and a 200-day simple moving average of $71.42. Tidewater Inc. has a 1 year low of $45.18 and a 1 year high of $93.13.

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