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

Shares of Tidewater Inc. (NYSE:TDW) have been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $69.00.

A number of analysts have recently commented on TDW shares. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research report on Saturday, September 27th. Evercore ISI boosted their price target on Tidewater from $60.00 to $67.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 6th. Fearnley Fonds raised Tidewater to a “hold” rating in a research note on Tuesday, September 16th. Zacks Research upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 13th. Finally, BTIG Research downgraded Tidewater from a “buy” rating to a “neutral” rating in a report on Monday, July 14th.

Insiders Place Their Bets

In related news, EVP Daniel A. Hudson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total value of $575,600.00. Following the completion of the transaction, the executive vice president directly owned 75,986 shares in the company, valued at $4,373,754.16. The trade was a 11.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Nuveen LLC purchased a new position in shares of Tidewater in the first quarter worth $5,642,000. GAMMA Investing LLC raised its stake in shares of Tidewater by 477.5% in the first quarter. GAMMA Investing LLC now owns 2,668 shares of the oil and gas company’s stock worth $113,000 after purchasing an additional 2,206 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Tidewater by 2.8% in the first quarter. Principal Financial Group Inc. now owns 283,950 shares of the oil and gas company’s stock worth $12,003,000 after purchasing an additional 7,837 shares during the last quarter. Dakota Wealth Management purchased a new position in shares of Tidewater in the second quarter worth $848,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Tidewater by 94,555.6% during the first quarter. Farther Finance Advisors LLC now owns 8,519 shares of the oil and gas company’s stock valued at $366,000 after purchasing an additional 8,510 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Trading Up 1.0%

NYSE:TDW opened at $53.28 on Friday. The company has a 50-day moving average price of $56.68 and a 200-day moving average price of $47.37. Tidewater has a 12 month low of $31.17 and a 12 month high of $73.31. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 13.80 and a beta of 1.05.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.95. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The company had revenue of $341.43 million during the quarter, compared to analysts’ expectations of $317.28 million. During the same period last year, the company posted $0.94 EPS. Tidewater’s revenue was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. Equities analysts predict that Tidewater will post 3.25 EPS for the current year.

Tidewater declared that its Board of Directors has initiated a stock repurchase program on Monday, August 4th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the oil and gas company to purchase up to 21.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.