Tidewater’s (TDW) “Buy” Rating Reiterated at BTIG Research

Tidewater (NYSE:TDW)‘s stock had its “buy” rating reaffirmed by BTIG Research in a report released on Friday, Benzinga reports. They presently have a $120.00 price target on the oil and gas company’s stock. BTIG Research’s price objective indicates a potential upside of 38.06% from the company’s previous close.

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

Tidewater Stock Performance

TDW traded up $0.47 on Friday, reaching $86.92. 97,772 shares of the stock were exchanged, compared to its average volume of 742,717. The company’s 50-day moving average price is $89.01 and its 200 day moving average price is $81.66. 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 firm has a market capitalization of $4.33 billion, a PE ratio of 17.59 and a beta of 0.60.

Tidewater (NYSE:TDW) last issued 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). Tidewater had a return on equity of 5.36% and a net margin of 18.34%. The firm had revenue of $342.29 million for the quarter, compared to analyst estimates of $329.97 million. During the same period in the prior year, the firm posted $1.46 EPS. The business’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Tidewater will post 3.08 EPS for the current fiscal year.

Insider Activity

In other news, Director Kenneth Traub sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the transaction, the director owned 63,521 shares of the company’s stock, valued at $6,288,579. The trade was a 13.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel Hudson sold 15,000 shares of the business’s stock in a transaction dated 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,705 shares of company stock valued at $4,097,270 in the last quarter. 5.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tidewater

Several institutional investors and hedge funds have recently modified their holdings of TDW. Blue Trust Inc. purchased a new stake in Tidewater during the 1st quarter worth approximately $26,000. Public Employees Retirement System of Ohio purchased a new stake in Tidewater during the 2nd quarter worth approximately $27,000. Longview Financial Advisors Inc. purchased a new stake in Tidewater during the 1st quarter worth approximately $54,000. Versant Capital Management Inc increased its stake in Tidewater by 142.6% during the 3rd quarter. Versant Capital Management Inc now owns 740 shares of the oil and gas company’s stock worth $60,000 after buying an additional 435 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Tidewater by 37.3% during the 1st quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Company Profile

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.