Tidewater Inc. (NYSE:TDW) Receives Consensus Rating of “Hold” from Analysts

Shares of Tidewater Inc. (NYSE:TDW) have earned an average recommendation of “Hold” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $91.00.

Several analysts have issued reports on TDW shares. Barclays boosted their target price on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday. Weiss Ratings cut shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Zacks Research downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Finally, Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th.

Tidewater Price Performance

Shares of NYSE:TDW opened at $93.99 on Tuesday. The company has a market cap of $4.68 billion, a PE ratio of 19.03 and a beta of 0.53. The firm has a 50-day simple moving average of $74.92 and a 200 day simple moving average of $77.14. Tidewater has a fifty-two week low of $46.65 and a fifty-two week high of $95.32. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47.

Tidewater (NYSE:TDW) last announced its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). The business had revenue of $342.29 million for the quarter, compared to the consensus estimate of $329.97 million. Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 EPS. On average, sell-side analysts anticipate that Tidewater will post 3.08 EPS for the current year.

Insider Activity

In related news, EVP Samuel R. Rubio sold 17,705 shares of Tidewater stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the transaction, the executive vice president directly owned 33,214 shares of the company’s stock, valued at $3,041,073.84. This trade represents a 34.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Tidewater

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in Tidewater by 22.6% in the 1st quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock valued at $980,000 after buying an additional 4,278 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Tidewater by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock worth $1,227,000 after acquiring an additional 1,271 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Tidewater by 4.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock valued at $1,895,000 after acquiring an additional 1,931 shares during the period. Cetera Investment Advisers boosted its holdings in Tidewater by 4.1% in the second quarter. Cetera Investment Advisers now owns 8,010 shares of the oil and gas company’s stock valued at $370,000 after acquiring an additional 314 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Tidewater by 12.1% in the second quarter. Invesco Ltd. now owns 227,443 shares of the oil and gas company’s stock valued at $10,492,000 after acquiring an additional 24,609 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

About Tidewater

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.