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

Shares of Tidewater Inc. (NYSE:TDW) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $98.25.

Several brokerages have recently weighed in on TDW. Weiss Ratings upgraded Tidewater from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Barclays lifted their price target on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Finally, BTIG Research reissued a “buy” rating and set a $120.00 price target on shares of Tidewater in a research report on Friday, October 9th.

Insider Activity at Tidewater

In related news, EVP Samuel R. Rubio sold 17,705 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth Traub sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the sale, the director owned 63,521 shares of the company’s stock, valued at approximately $6,288,579. This represents a 13.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,705 shares of company stock worth $4,097,270 in the last quarter. 5.90% of the stock is owned by insiders.

Institutional Trading of Tidewater

A number of hedge funds have recently bought and sold shares of the business. Blue Trust Inc. purchased a new stake in shares of Tidewater during the 1st quarter worth approximately $26,000. Public Employees Retirement System of Ohio purchased a new position in Tidewater during the second quarter valued at approximately $27,000. Longview Financial Advisors Inc. purchased a new position in shares of Tidewater during the 1st quarter valued at $54,000. Versant Capital Management Inc raised its holdings in shares of Tidewater by 142.6% in the 3rd quarter. Versant Capital Management Inc now owns 740 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 435 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Tidewater by 37.3% in the 1st quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock worth $64,000 after buying an additional 208 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

Tidewater Trading Up 0.8%

TDW stock opened at $87.16 on Wednesday. The business has a fifty day moving average price of $89.07 and a 200 day moving average price of $81.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47. Tidewater has a fifty-two week low of $46.65 and a fifty-two week high of $101.57. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 17.64 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 analysts’ consensus estimates of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%. The firm had revenue of $342.29 million for the quarter, compared to the consensus estimate of $329.97 million. During the same quarter in the previous year, the firm earned $1.46 EPS. The company’s revenue was up .3% compared to the same quarter last year. Analysts expect that Tidewater will post 3.08 EPS for the current fiscal year.

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.