Tidewater
TDW

$74.43

5.41%

Market Cap: $3.91B

About: Tidewater Inc provides offshore service vessels and marine support services to the offshore energy industry through the operation of a diversified fleet of marine service vessels. The company's vessels and associated vessel services provide support for all phases of offshore exploration, field development, and production. These services include towing of, and anchor handling for, mobile offshore drilling units; transporting supplies and remotely operated vehicle operations, and a variety of specialized services. The company operates in the following principal geographical areas the Americas, Asia Pacific, Middle East, Europe/Mediterranean, and West Africa. The majority of its revenue is derived from West Africa.

Employees: 7,300

Industrials Water Transportation

0

Funds holding %

of 6,686 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

76% more first-time investments, than exits

New positions opened: 74 | Existing positions closed: 42

11% more funds holding

Funds holding: 279 [Q1] → 311 (+32) [Q2]

7% more capital invested

Capital invested by funds: $4.72B [Q1] → $5.04B (+$314M) [Q2]

7% more repeat investments, than reductions

Existing positions increased: 102 | Existing positions reduced: 95

0% less call options, than puts

Call options by funds: $82M | Put options by funds: $82M

9.04% less ownership

Funds ownership: 109.35% [Q1] → 100.31% (-9.04%) [Q2]

24% less funds holding in top 10

Funds holding in top 10: 17 [Q1] → 13 (-4) [Q2]

See Fund Rankings

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

Low target

$138

85%

upside

Avg. target

$138

85%

upside

High target

$138

85%

upside

1 analyst rating

1 positive

100%

0 neutral

0%

0 negative

0%

Raymond James

James Rollyson

26% 1-year accuracy

5 / 19 met price target

85%upside

$138

Strong Buy

Maintained

8 Aug 2024

See Analyst Rankings

Financial journalist opinion

Based on 6 articles about TDW published over the past 30 days

These offshore oil drillers look like bargain stocks as the industry recovers

The energy sector has been the best performer among the 11 sectors of the S&P 500 over the past three years, but investors remain wary of oil and natural-gas producers and the companies that service them.

These offshore oil drillers look like bargain stocks as the industry recovers

Tidewater: Bullish Momentum Should Continue For This Energy/Shipping Play

Tidewater is the largest global OSV operator, making great cash flows in an industry with many tailwinds. It has become a top 5 position for me. Management has the company positioned and operating well and is committed to share buybacks / earnings-accretive strategies. Additionally, hedge funds are net short commodities for the first time since 2016! I think investors looking for unique energy / commodity exposure can accumulate here for upside. I rate TDW as a “Strong Buy” for a short- and long-term inflation play.

Tidewater: Bullish Momentum Should Continue For This Energy/Shipping Play

Tidewater: Decent Quarter But Lowered Outlook Disappoints

Leading offshore service vessel provider Tidewater Inc. reported strong Q2/2024 results, with both top and bottom line results exceeding expectations. Revenues of $339.2 million and Adjusted EBITDA of $139.7 million represented new multi-year highs. The company's average dayrate of $21,130 moved up by 32% year-over-year and 8% sequentially. Despite the company's strong second quarter results, management lowered full-year expectations due to several drilling campaigns having been pushed out from the third into the fourth quarter.

Tidewater: Decent Quarter But Lowered Outlook Disappoints

Tidewater Q2 2024 Earnings: Headwinds Are Temporary, But Outlook Remains Robust

Management anticipated longer drydock days in Q3 and several project commencements have been pushed to the right, leading to revised guidance. We believe these developments are temporary. The bull thesis remains in play given supportive market fundamentals. Markets underappreciate potential increases in day rates and utilization rates. We revised our fair value estimate on TDW from $125/share to $121/share (-3%), as smaller vessels with lower yields come into play.

Tidewater Q2 2024 Earnings: Headwinds Are Temporary, But Outlook Remains Robust

Zacks Investment Research

Is the Options Market Predicting a Spike in Tidewater (TDW) Stock?

Investors need to pay close attention to Tidewater (TDW) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in Tidewater (TDW) Stock?

Tidewater Inc. (TDW) Q2 2024 Earnings Call Transcript

Tidewater Inc. (NYSE:TDW ) Q2 2024 Results Conference Call August 7, 2024 9:00 AM ET Company Participants West Gotcher - VP, Finance & IR Quintin Kneen - President & CEO Piers Middleton - Chief Commercial Officer Samuel Rubio - CFO Conference Call Participants Magnus Anderson - Fearnley Securities Don Crist - Johnson Rice Josh Jayne - Daniel Energy Partners David Smith - Pickering Energy Partners Fredrik Stene - Clarksons Securities Greg Lewis - BTIG Jim Rollyson - Raymond James Operator Thank you for standing by. My name is Mandeep, and I'll be your operator today.

Tidewater Inc. (TDW) Q2 2024 Earnings Call Transcript

Zacks Investment Research

Tidewater (TDW) Tops Q2 Earnings and Revenue Estimates

Tidewater (TDW) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $0.46 per share a year ago.

Tidewater (TDW) Tops Q2 Earnings and Revenue Estimates

Tidewater Reports Results for the Three and Six Months Ended June 30, 2024

HOUSTON--(BUSINESS WIRE)--Tidewater Inc. (NYSE:TDW) announced today revenue for the three and six months ended June 30, 2024 of $339.2 million and $660.4 million, respectively, compared with $215.0 million and $408.1 million, respectively, for the three and six months ended June 30, 2023. Tidewater's net income for the three and six months ended June 30, 2024, was $50.4 million ($0.94 per common share) and $97.4 million ($1.83 per common share), respectively, compared with net income of $22.6 m.

Tidewater Reports Results for the Three and Six Months Ended June 30, 2024

Tidewater Announces Earnings Release and Conference Call

HOUSTON--(BUSINESS WIRE)--Tidewater Inc. (NYSE: TDW) (“Tidewater” or the “Company”) announced today that it will release financial results for the three months ending June 30, 2024, on Tuesday, August 6, 2024 after market close. An earnings conference call has been scheduled for Wednesday, August 7, 2024, at 8:00 a.m. Central Time, during which President and Chief Executive Officer Quintin Kneen will discuss results for the three months ending June 30, 2024. Investors and interested parties may.

Tidewater Announces Earnings Release and Conference Call

Investors Business Daily

7 Best Stocks For Magnificent Earnings Growth Next Year. See Who's New.

None of our picks is Nvidia or Apple or Tesla. Investors may wish to widen the aperture to find the best stocks for outsize earnings growth.

7 Best Stocks For Magnificent Earnings Growth Next Year. See Who's New.

See News Rankings