Analysts Set Tidewater Inc. (NYSE:TDW) Target Price at $87.33

Tidewater Inc. (NYSE:TDW) has been assigned a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $87.3333.

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Dawson James reiterated an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Barclays assumed coverage on Tidewater in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $80.00 price target for the company. Finally, Raymond James Financial set a $117.00 price target on Tidewater in a research note on Tuesday, March 3rd.

Insider Activity at Tidewater

In related news, EVP Daniel A. Hudson sold 5,195 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $80.56, for a total value of $418,509.20. Following the completion of the sale, the executive vice president directly owned 45,971 shares in the company, valued at approximately $3,703,423.76. The trade was a 10.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Samuel R. Rubio sold 22,461 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the sale, the executive vice president owned 60,066 shares of the company’s stock, valued at approximately $4,808,283.30. This trade represents a 27.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 52,656 shares of company stock valued at $4,079,112. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TDW. Blue Trust Inc. acquired a new position in Tidewater during the first quarter valued at approximately $26,000. Blume Capital Management Inc. raised its position in Tidewater by 128.3% during the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Hantz Financial Services Inc. raised its position in Tidewater by 401.0% during the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 413 shares in the last quarter. Clearstead Advisors LLC raised its position in Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 158 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Tidewater by 701.6% during the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Trading Down 1.4%

Shares of NYSE:TDW opened at $83.79 on Wednesday. Tidewater has a 12-month low of $32.64 and a 12-month high of $89.00. The stock has a market cap of $4.15 billion, a PE ratio of 12.54 and a beta of 0.56. The business has a 50 day moving average of $79.38 and a 200-day moving average of $63.53. The company has a quick ratio of 2.78, a current ratio of 2.90 and a debt-to-equity ratio of 0.48.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $3.64. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The company had revenue of $336.80 million during the quarter, compared to analysts’ expectations of $329.39 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that Tidewater will post 4.04 earnings per share for the current year.

Tidewater Company Profile

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.