Bank of New York Mellon Corp Has $27.06 Million Stock Position in Tidewater Inc. $TDW

Bank of New York Mellon Corp boosted its holdings in Tidewater Inc. (NYSE:TDW) by 6.7% in the first quarter, HoldingsChannel reports. The firm owned 323,869 shares of the oil and gas company’s stock after purchasing an additional 20,472 shares during the period. Bank of New York Mellon Corp’s holdings in Tidewater were worth $27,059,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Tidewater during the 4th quarter valued at $1,036,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Tidewater in the fourth quarter valued at $1,953,000. Tejara Capital Ltd increased its stake in Tidewater by 127.6% in the fourth quarter. Tejara Capital Ltd now owns 44,600 shares of the oil and gas company’s stock valued at $2,253,000 after purchasing an additional 25,000 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Tidewater by 581.9% during the fourth quarter. SG Americas Securities LLC now owns 134,738 shares of the oil and gas company’s stock valued at $6,806,000 after purchasing an additional 114,980 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Tidewater during the fourth quarter valued at about $346,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Tidewater Price Performance

Tidewater stock opened at $78.63 on Tuesday. The company’s 50 day moving average price is $73.12 and its two-hundred day moving average price is $74.52. The stock has a market cap of $3.91 billion, a P/E ratio of 13.17 and a beta of 0.53. Tidewater Inc. has a 52 week low of $46.65 and a 52 week high of $93.13. 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 (NYSE:TDW) last announced its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (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 the consensus estimate of $322.83 million. Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 EPS. On average, equities 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.