Tidewater (NYSE:TDW) Now Covered by Analysts at Barclays

Barclays began coverage on shares of Tidewater (NYSE:TDW) in a research report report published on Wednesday, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $80.00 price objective on the oil and gas company’s stock.

TDW has been the subject of several other research reports. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Dawson James reissued an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Raymond James Financial set a $117.00 price objective on shares of Tidewater in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $87.33.

Tidewater Trading Up 0.0%

Shares of Tidewater stock opened at $83.57 on Wednesday. The business has a fifty day simple moving average of $73.34 and a two-hundred day simple moving average of $60.58. Tidewater has a 1 year low of $31.17 and a 1 year high of $88.99. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 12.51 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.90 and a quick ratio of 2.78.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, beating the consensus estimate of $0.77 by $3.64. The firm had revenue of $336.80 million for 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%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 earnings per share. Research analysts forecast that Tidewater will post 3.25 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Daniel A. Hudson sold 15,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $77.50, for a total value of $1,162,500.00. Following the completion of the transaction, the executive vice president owned 50,986 shares of the company’s stock, valued at $3,951,415. The trade was a 22.73% decrease in their ownership of the stock. 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 company’s stock in a transaction dated Thursday, March 5th. The stock was 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 $4,808,283.30. This represents a 27.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 52,656 shares of company stock worth $4,079,112 in the last 90 days. 6.60% of the stock is owned by company insiders.

Institutional Trading of Tidewater

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Blume Capital Management Inc. increased its stake in Tidewater by 128.3% in the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Tidewater by 401.0% during the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 413 shares during the last quarter. Clearstead Advisors LLC lifted its stake in 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 during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Tidewater by 701.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Tidewater in the 2nd quarter valued at $47,000. Institutional investors own 95.13% of the company’s stock.

About Tidewater

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.