Tidewater (NYSE:TDW) Now Covered by Analysts at Barclays

Equities research analysts at Barclays started coverage on shares of Tidewater (NYSE:TDW) in a research note issued on Wednesday. The brokerage set an “equal weight” rating and a $80.00 price target on the oil and gas company’s stock. Barclays‘s price objective would suggest a potential downside of 4.40% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. Dawson James reiterated an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Raymond James Financial set a $117.00 target price on shares of Tidewater in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $87.33.

Tidewater Trading Up 2.2%

NYSE TDW opened at $83.69 on Wednesday. The firm’s 50 day moving average price is $72.86 and its two-hundred day moving average price is $60.41. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.78 and a current ratio of 2.90. Tidewater has a twelve month low of $31.17 and a twelve month high of $88.99. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 12.53 and a beta of 0.57.

Tidewater (NYSE:TDW) last released its earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $329.39 million. During the same quarter in the prior year, the company earned $0.70 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts anticipate that Tidewater will post 3.25 EPS for the current year.

Insider Activity at Tidewater

In other Tidewater news, EVP Daniel A. Hudson sold 15,000 shares of Tidewater stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $77.50, for a total value of $1,162,500.00. Following the completion of the sale, the executive vice president directly owned 50,986 shares in the company, valued at $3,951,415. The trade was a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samuel R. Rubio sold 22,461 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the transaction, the executive vice president owned 60,066 shares in the company, valued at approximately $4,808,283.30. This trade represents a 27.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 52,656 shares of company stock worth $4,079,112. Insiders own 6.60% of the company’s stock.

Institutional Trading of Tidewater

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of Tidewater by 4.7% during the 4th quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock valued at $96,064,000 after acquiring an additional 85,697 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Tidewater by 14.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,752,685 shares of the oil and gas company’s stock valued at $88,529,000 after purchasing an additional 215,145 shares during the last quarter. Cerity Partners LLC raised its position in shares of Tidewater by 104.3% in the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock valued at $57,730,000 after purchasing an additional 583,607 shares during the period. American Century Companies Inc. lifted its stake in shares of Tidewater by 74.2% in the third quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock worth $51,698,000 after buying an additional 412,911 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its stake in shares of Tidewater by 14.3% in the second quarter. Frontier Capital Management Co. LLC now owns 744,237 shares of the oil and gas company’s stock worth $34,332,000 after buying an additional 92,884 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

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.