Tidewater (NYSE:TDW) PT Raised to $138.00 at Raymond James

Tidewater (NYSE:TDW) had its price objective hoisted by stock analysts at Raymond James from $133.00 to $138.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “strong-buy” rating on the oil and gas company’s stock. Raymond James’ price objective would suggest a potential upside of 63.12% from the stock’s previous close.

Separately, BTIG Research lifted their price objective on Tidewater from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, May 10th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tidewater presently has a consensus rating of “Buy” and an average price target of $111.25.

Tidewater Stock Performance

TDW stock traded down $2.70 during trading hours on Thursday, hitting $84.60. 782,491 shares of the stock were exchanged, compared to its average volume of 864,511. The company has a 50-day simple moving average of $96.19 and a two-hundred day simple moving average of $90.62. The firm has a market capitalization of $4.46 billion, a P/E ratio of 33.71 and a beta of 1.20. Tidewater has a 12 month low of $54.53 and a 12 month high of $111.42. The company has a current ratio of 1.81, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.21%. The firm had revenue of $339.20 million during the quarter, compared to the consensus estimate of $331.85 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue for the quarter was up 57.8% compared to the same quarter last year. On average, analysts forecast that Tidewater will post 4.68 earnings per share for the current fiscal year.

Tidewater declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 2nd that allows the company to repurchase $18.10 million in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 0.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at Tidewater

In related news, Director Robert Robotti sold 170,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $107.62, for a total transaction of $18,295,400.00. Following the completion of the transaction, the director now directly owns 2,533,037 shares in the company, valued at approximately $272,605,441.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Tidewater news, Director Robert Robotti sold 170,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $107.62, for a total transaction of $18,295,400.00. Following the sale, the director now owns 2,533,037 shares of the company’s stock, valued at $272,605,441.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Quintin Kneen sold 166,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $103.76, for a total value of $17,224,160.00. Following the completion of the transaction, the chief executive officer now owns 335,718 shares of the company’s stock, valued at $34,834,099.68. The disclosure for this sale can be found here. Insiders have sold 512,909 shares of company stock valued at $54,277,485 over the last ninety days. 8.33% of the stock is owned by corporate insiders.

Institutional Trading of Tidewater

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Tidewater by 135.4% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 153 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Tidewater in the first quarter valued at approximately $28,000. PNC Financial Services Group Inc. increased its position in Tidewater by 71.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 156 shares during the period. Parkside Financial Bank & Trust bought a new position in Tidewater during the 4th quarter worth approximately $33,000. Finally, Headlands Technologies LLC lifted its position in shares of Tidewater by 6,322.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after purchasing an additional 1,138 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Tidewater Company Profile

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.