Tidewater Inc. (NYSE:TDW) Given Average Rating of “Buy” by Brokerages

Shares of Tidewater Inc. (NYSE:TDW) have been given a consensus recommendation of “Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $95.80.

Several brokerages have recently weighed in on TDW. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. DNB Markets initiated coverage on shares of Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th.

Tidewater Price Performance

Shares of NYSE TDW opened at $55.79 on Friday. The stock’s 50-day simple moving average is $52.67 and its 200-day simple moving average is $71.99. The firm has a market capitalization of $2.92 billion, a PE ratio of 16.41 and a beta of 1.06. Tidewater has a fifty-two week low of $46.50 and a fifty-two week high of $111.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29.

Insider Activity

In related news, CEO Quintin Kneen acquired 41,615 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the transaction, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.33% of the company’s stock.

Hedge Funds Weigh In On Tidewater

Several hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in shares of Tidewater by 8.1% during 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 during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Tidewater by 30.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company’s stock valued at $1,220,000 after purchasing an additional 3,969 shares in the last quarter. Neo Ivy Capital Management boosted its stake in shares of Tidewater by 22.5% during the 3rd quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company’s stock worth $994,000 after purchasing an additional 2,544 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Tidewater by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock worth $78,473,000 after buying an additional 5,713 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Tidewater by 354.2% in the third quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock valued at $5,661,000 after buying an additional 61,487 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Company Profile

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.