Tidewater Inc. (TDW) – What Are Investment Firms Saying About This Stock?

Shares of Tidewater Inc. (NYSE:TDW) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $98.25.

Several equities analysts have recently issued reports on TDW shares. Barclays upped their target price on Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. BTIG Research restated a “buy” rating and set a $120.00 price target on shares of Tidewater in a research report on Friday, October 9th. Finally, Weiss Ratings raised Tidewater from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 12th.

Insider Buying and Selling

In other news, EVP Samuel 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 sale, the executive vice president owned 33,214 shares of the company’s stock, valued at approximately $3,041,073.84. The trade was a 34.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Hudson sold 15,000 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $99.08, for a total value of $1,486,200.00. Following the completion of the transaction, the executive vice president owned 33,029 shares of the company’s stock, valued at approximately $3,272,513.32. This trade represents a 31.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,705 shares of company stock valued at $4,097,270 over the last quarter. 5.90% of the stock is owned by company insiders.

Institutional Trading of Tidewater

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. bought a new position in shares of Tidewater during the 1st quarter worth approximately $26,000. Public Employees Retirement System of Ohio acquired a new stake in Tidewater during the 2nd quarter worth about $27,000. Salomon & Ludwin LLC boosted its position in Tidewater by 35.9% in the 3rd quarter. Salomon & Ludwin LLC now owns 492 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 130 shares in the last quarter. Versant Capital Management Inc grew its position in Tidewater by 142.6% during the third quarter. Versant Capital Management Inc now owns 740 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 435 shares during the period. Finally, Covestor Ltd increased its position in shares of Tidewater by 34.2% in the third quarter. Covestor Ltd now owns 781 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 199 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Trading Down 6.2%

NYSE TDW opened at $69.00 on Friday. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $85.80 and a 200-day moving average price of $79.47. Tidewater has a 52 week low of $49.54 and a 52 week high of $101.57. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 13.97 and a beta of 0.63.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The business had revenue of $342.29 million for the quarter, compared to analyst estimates of $329.97 million. Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, equities analysts expect that Tidewater will post 3.08 earnings per share for the current fiscal year.

About Tidewater

Tidewater Inc (NYSE: TDW) is an offshore support vessel operator that provides marine transportation and logistics services to the global energy industry. The company supports offshore exploration, development, production, construction and decommissioning activities, transporting personnel, equipment and supplies between shore bases and offshore installations.

Tidewater operates a diverse fleet of vessels, including platform supply vessels, anchor-handling vessels, fast supply vessels, crew boats, tugboats and vessels used for subsea construction, survey and other specialized offshore work.