Tidewater Inc. (NYSE:TDW) Receives Consensus Recommendation of “Hold” from Brokerages

Tidewater Inc. (NYSE:TDW) has been assigned an average rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $91.00.

A number of analysts have recently commented on the stock. Dawson James reiterated an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Raymond James Financial set a $117.00 price objective on Tidewater in a report on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th.

Insider Transactions at Tidewater

In other news, EVP Daniel A. Hudson sold 5,195 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.56, for a total transaction of $418,509.20. Following the completion of the sale, the executive vice president owned 45,971 shares of the company’s stock, valued at $3,703,423.76. This represents a 10.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samuel R. Rubio sold 22,461 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the sale, the executive vice president directly owned 60,066 shares of the company’s stock, valued at approximately $4,808,283.30. The trade was a 27.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 52,656 shares of company stock valued at $4,079,112. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Tidewater

Several institutional investors and hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in shares of Tidewater by 401.0% in the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 413 shares in the last quarter. Blume Capital Management Inc. boosted its stake in shares of Tidewater by 128.3% in the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 295 shares during the period. Clearstead Advisors LLC grew its position in shares of Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Tidewater by 701.6% during the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 870 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Tidewater during the 2nd quarter valued at approximately $47,000. 95.13% of the stock is currently owned by institutional investors.

Tidewater Trading Up 1.2%

Shares of NYSE TDW opened at $77.82 on Friday. The firm’s 50 day moving average price is $70.88 and its 200-day moving average price is $59.76. Tidewater has a 52-week low of $31.17 and a 52-week high of $88.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.78 and a current ratio of 2.90. The company has a market cap of $3.86 billion, a PE ratio of 11.65 and a beta of 0.57.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share for the quarter, beating the consensus estimate of $0.77 by $3.64. The company had revenue of $336.80 million during the quarter, compared to the consensus estimate of $329.39 million. Tidewater had a net margin of 24.74% and a return on equity of 12.34%. During the same quarter last year, the firm earned $0.70 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts expect that Tidewater will post 3.25 EPS for the current fiscal year.

Tidewater Company Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.