Tidewater Inc. (NYSE:TDW) Receives $84.50 Average Price Target from Analysts

Tidewater Inc. (NYSE:TDW) has received a consensus rating of “Moderate Buy” from the four research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $69.33.

Several brokerages have commented on TDW. Pickering Energy Partners downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Raymond James dropped their target price on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Finally, Evercore ISI downgraded shares of Tidewater from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th.

Tidewater Stock Performance

Shares of NYSE:TDW opened at $42.57 on Wednesday. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 12.52 and a beta of 1.00. The firm’s 50 day simple moving average is $38.62 and its 200 day simple moving average is $47.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. Tidewater has a fifty-two week low of $31.17 and a fifty-two week high of $110.06.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.24. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 EPS. As a group, sell-side analysts forecast that Tidewater will post 3.25 earnings per share for the current year.

Insider Activity

In other news, Director Robert Robotti bought 25,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the acquisition, the director now owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. This represents a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tidewater

A number of institutional investors have recently added to or reduced their stakes in the company. Value Holdings Management CO. LLC increased its holdings in Tidewater by 63.7% during the first quarter. Value Holdings Management CO. LLC now owns 53,200 shares of the oil and gas company’s stock worth $2,249,000 after buying an additional 20,700 shares during the last quarter. Raymond James Financial Inc. increased its holdings in Tidewater by 271.7% during the first quarter. Raymond James Financial Inc. now owns 295,337 shares of the oil and gas company’s stock worth $12,484,000 after buying an additional 215,891 shares during the last quarter. American Century Companies Inc. increased its holdings in Tidewater by 198.9% during the first quarter. American Century Companies Inc. now owns 142,027 shares of the oil and gas company’s stock worth $6,003,000 after buying an additional 94,504 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Tidewater during the first quarter worth $287,000. Finally, Moerus Capital Management LLC acquired a new position in Tidewater during the first quarter worth $4,321,000. 95.13% of the stock is currently 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.