Tidewater Inc. (NYSE:TDW) Stock Has Average Price Target of $98.25

Shares of Tidewater Inc. (NYSE:TDW) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $98.25.

Several equities analysts recently issued reports on the stock. Barclays upped their price objective on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. BTIG Research reaffirmed a “buy” rating and issued a $120.00 target price on shares of Tidewater in a research note on Friday. Finally, Weiss Ratings upgraded Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 11th.

Tidewater Trading Up 0.5%

Shares of TDW stock opened at $85.15 on Wednesday. The firm has a 50-day moving average price of $88.71 and a 200 day moving average price of $81.55. Tidewater has a twelve month low of $46.65 and a twelve month high of $101.57. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 17.24 and a beta of 0.60. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47.

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

Insider Transactions at Tidewater

In other news, EVP Daniel Hudson sold 15,000 shares of Tidewater stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $99.08, for a total value of $1,486,200.00. Following the completion of the sale, the executive vice president owned 33,029 shares of the company’s stock, valued at $3,272,513.32. The trade was a 31.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samuel Rubio sold 17,705 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total value 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. The trade was a 34.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 42,705 shares of company stock worth $4,097,270 over the last quarter. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Tidewater by 7.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,236 shares of the oil and gas company’s stock worth $262,000 after acquiring an additional 221 shares during the period. Farther Finance Advisors LLC grew its holdings in Tidewater by 5.6% in the third quarter. Farther Finance Advisors LLC now owns 37,992 shares of the oil and gas company’s stock valued at $3,081,000 after purchasing an additional 2,029 shares during the period. Versant Capital Management Inc grew its holdings in Tidewater by 142.6% in the third quarter. Versant Capital Management Inc now owns 740 shares of the oil and gas company’s stock valued at $60,000 after purchasing an additional 435 shares during the period. Tidal Investments LLC increased its position in Tidewater by 26.1% during the second quarter. Tidal Investments LLC now owns 14,114 shares of the oil and gas company’s stock worth $940,000 after purchasing an additional 2,923 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Tidewater during the second quarter worth approximately $74,000. Institutional investors and hedge funds 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.