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

Shares of Tidewater Inc. (NYSE:TDW) have been given a consensus rating of “Moderate Buy” by the ten analysts that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $98.25.

TDW has been the topic of several recent research reports. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Weiss Ratings downgraded shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Barclays raised their price objective on Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Finally, BTIG Research raised Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Tuesday, September 1st.

Insider Transactions at Tidewater

In related news, EVP Daniel Hudson sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $99.08, for a total value of $1,486,200.00. Following the completion of the transaction, the executive vice president directly owned 33,029 shares of the company’s stock, valued at approximately $3,272,513.32. This trade represents a 31.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Traub sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $99.00, for a total transaction of $990,000.00. Following the transaction, the director owned 63,521 shares in the company, valued at approximately $6,288,579. The trade was a 13.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 42,705 shares of company stock worth $4,097,270 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Tidewater

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC lifted its stake in Tidewater by 26.1% in the 2nd quarter. Tidal Investments LLC now owns 14,114 shares of the oil and gas company’s stock valued at $940,000 after purchasing an additional 2,923 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Tidewater during the second quarter worth approximately $74,000. Nykredit A S bought a new stake in Tidewater in the second quarter valued at approximately $139,000. VELA Investment Management LLC lifted its position in shares of Tidewater by 17.8% in the second quarter. VELA Investment Management LLC now owns 38,540 shares of the oil and gas company’s stock valued at $2,568,000 after buying an additional 5,834 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Tidewater by 4,647.9% in the second quarter. California State Teachers Retirement System now owns 965,535 shares of the oil and gas company’s stock valued at $64,334,000 after buying an additional 945,199 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Price Performance

Shares of TDW opened at $92.93 on Friday. The stock has a market capitalization of $4.62 billion, a P/E ratio of 18.81 and a beta of 0.56. Tidewater has a twelve month low of $46.65 and a twelve month high of $101.57. The company has a 50 day moving average of $84.49 and a 200-day moving average of $80.57. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The business had revenue of $342.29 million during the quarter, compared to the consensus estimate of $329.97 million. During the same period in the prior year, the firm earned $1.46 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities research analysts forecast that Tidewater will post 3.08 EPS for the current fiscal year.

Tidewater Company Profile

Tidewater Inc (NYSE: TDW) is a provider of offshore support services to the global energy industry. The company owns and operates a fleet of offshore support vessels that transport personnel, equipment and supplies, tow and position offshore structures, and support construction, maintenance and other activities at sea.

Its fleet includes platform supply vessels, anchor-handling vessels, crew boats and other specialized vessels used in offshore exploration and production. Tidewater also provides marine logistics and support for offshore wind and other marine infrastructure projects, serving customers involved in both traditional energy and emerging offshore industries.

Founded in 1955, Tidewater began by serving the offshore oil and gas industry in the Gulf of Mexico and expanded internationally as offshore development grew.