Tidewater (NYSE:TDW) Earns “Buy” Rating from BTIG Research

Tidewater (NYSE:TDW)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a note issued to investors on Friday, Benzinga reports. They currently have a $120.00 price objective on the oil and gas company’s stock. BTIG Research’s price target suggests a potential upside of 40.79% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Barclays raised their price objective on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Weiss Ratings raised shares of Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 11th. Finally, Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tidewater currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.25.

Tidewater Trading Up 0.6%

Shares of TDW traded up $0.54 during trading hours on Friday, hitting $85.24. 181,126 shares of the stock were exchanged, compared to its average volume of 745,786. Tidewater has a fifty-two week low of $46.65 and a fifty-two week high of $101.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47. The business has a 50-day moving average of $88.50 and a 200-day moving average of $81.52. The firm has a market capitalization of $4.24 billion, a P/E ratio of 17.26 and a beta of 0.60.

Tidewater (NYSE:TDW) last posted its quarterly earnings results 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). The company had revenue of $342.29 million during the quarter, compared to analyst estimates of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 earnings per share. On average, research analysts expect that Tidewater will post 3.08 EPS for the current year.

Insider Transactions at Tidewater

In other Tidewater news, EVP Samuel R. Rubio sold 17,705 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total value of $1,621,069.80. Following the completion of the transaction, the executive vice president owned 33,214 shares in the company, valued at $3,041,073.84. This trade represents a 34.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel A. Hudson sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was 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 owned 33,029 shares of the company’s stock, valued at approximately $3,272,513.32. This represents a 31.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 42,705 shares of company stock worth $4,097,270. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Tidewater by 7.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,236 shares of the oil and gas company’s stock valued at $262,000 after acquiring an additional 221 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Tidewater by 5.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 37,992 shares of the oil and gas company’s stock valued at $3,081,000 after acquiring an additional 2,029 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Tidewater by 142.6% during the 3rd quarter. Versant Capital Management Inc now owns 740 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 435 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Tidewater by 26.1% during the 2nd quarter. Tidal Investments LLC now owns 14,114 shares of the oil and gas company’s stock valued at $940,000 after acquiring an additional 2,923 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Tidewater during the 2nd quarter valued at about $74,000. Institutional investors own 95.13% of the company’s stock.

About Tidewater

Tidewater Inc is a global provider of offshore marine support services to the energy industry. The company operates a fleet of offshore support vessels that transport personnel, equipment and supplies to offshore facilities and assist with marine logistics, construction, maintenance and other activities.

Its vessel portfolio includes platform supply vessels, anchor-handling tug supply vessels, fast support vessels and other specialized ships designed for offshore operations. Tidewater serves customers involved in offshore oil and gas development, as well as selected activities associated with offshore wind and other marine energy projects.

Founded in 1955, Tidewater is headquartered in Houston, Texas, and serves offshore markets across regions including the Americas, Europe, the Middle East, Africa and Asia-Pacific.