Tidewater Inc. (NYSE:TDW) Given Average Recommendation of “Moderate Buy” by Analysts

Tidewater Inc. (NYSE:TDW) has been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $91.60.

TDW has been the topic of several research reports. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Pickering Energy Partners downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Evercore ISI downgraded shares of Tidewater from an “outperform” rating to an “in-line” rating and decreased their target price for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $131.00 to $102.00 in a research report on Monday, November 11th. Finally, DNB Markets initiated coverage on Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 target price on the stock.

Tidewater Price Performance

TDW stock opened at $53.69 on Thursday. The stock has a 50-day moving average price of $52.45 and a two-hundred day moving average price of $67.98. The company has a market cap of $2.81 billion, a PE ratio of 15.79 and a beta of 1.06. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. Tidewater has a 12-month low of $46.50 and a 12-month high of $111.42.

Tidewater (NYSE:TDW) last posted its earnings results on Thursday, November 7th. The oil and gas company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. The firm had revenue of $340.36 million during the quarter, compared to the consensus estimate of $339.65 million. During the same quarter in the prior year, the company earned $0.77 EPS. As a group, research analysts predict that Tidewater will post 3.25 EPS for the current year.

Insider Activity at Tidewater

In other Tidewater news, CEO Quintin Kneen bought 41,615 shares of the stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the purchase, the chief executive officer now directly owns 176,239 shares in the company, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC boosted its holdings in shares of Tidewater by 8.1% in the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 267 shares in the last quarter. Xponance Inc. boosted its stake in Tidewater by 9.9% during the 2nd quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock valued at $294,000 after purchasing an additional 279 shares in the last quarter. Quarry LP bought a new position in Tidewater during the 2nd quarter valued at $27,000. Glenmede Trust Co. NA increased its position in shares of Tidewater by 3.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,479 shares of the oil and gas company’s stock valued at $680,000 after purchasing an additional 321 shares during the period. Finally, Tectonic Advisors LLC raised its stake in shares of Tidewater by 2.3% in the 4th quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company’s stock worth $961,000 after buying an additional 402 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.