Tidewater (NYSE:TDW) Stock Rating Reaffirmed as “Buy” by BTIG Research

Tidewater (NYSE:TDW)‘s stock had its “buy” rating reissued by analysts at BTIG Research in a report issued on Friday, Benzinga reports. They currently have a $120.00 target price on the oil and gas company’s stock. BTIG Research’s price target would indicate a potential upside of 40.58% from the company’s current price.

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

Tidewater Trading Up 0.8%

Shares of TDW stock traded up $0.66 on Friday, reaching $85.36. 63,158 shares of the stock were exchanged, compared to its average volume of 745,162. Tidewater has a one year low of $46.65 and a one year high of $101.57. The stock has a 50 day moving average price of $88.50 and a 200 day moving average price of $81.52. 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 stock has a market cap of $4.25 billion, a PE ratio of 17.28 and a beta of 0.60.

Tidewater (NYSE:TDW) last released its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The firm had revenue of $342.29 million during the quarter, compared to the consensus estimate of $329.97 million. During the same period in the prior year, the business posted $1.46 earnings per share. Tidewater’s quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts forecast that Tidewater will post 3.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Samuel Rubio sold 17,705 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the transaction, the executive vice president owned 33,214 shares of the company’s stock, valued at $3,041,073.84. This trade represents a 34.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Daniel Hudson sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $99.08, for a total transaction of $1,486,200.00. Following the transaction, the executive vice president owned 33,029 shares of the company’s stock, valued at approximately $3,272,513.32. The trade was a 31.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 42,705 shares of company stock valued at $4,097,270. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Tidewater

A number of hedge funds have recently modified their holdings of TDW. Inspire Investing LLC lifted its holdings in Tidewater by 1.2% during the 1st quarter. Inspire Investing LLC now owns 11,332 shares of the oil and gas company’s stock worth $947,000 after buying an additional 131 shares in the last quarter. Baron Wealth Management LLC lifted its position in Tidewater by 4.5% during the 2nd quarter. Baron Wealth Management LLC now owns 3,286 shares of the oil and gas company’s stock worth $219,000 after acquiring an additional 141 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Tidewater by 5.8% in the 2nd quarter. GAMMA Investing LLC now owns 3,015 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 164 shares in the last quarter. Manatuck Hill Partners LLC raised its position in shares of Tidewater by 5.1% during the 4th quarter. Manatuck Hill Partners LLC now owns 4,100 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 200 shares during the period. Finally, Parallel Advisors LLC increased its stake in Tidewater by 37.3% during the 1st quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 208 shares during the period. Institutional investors and hedge funds 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.