Brokerages Set Tidewater Inc. (NYSE:TDW) PT at $98.25

Shares of Tidewater Inc. (NYSE:TDW) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $98.25.

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. BTIG Research raised Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, September 1st. Weiss Ratings upgraded Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 11th. Finally, Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th.

Tidewater Stock Performance

Shares of Tidewater stock opened at $86.56 on Friday. The business has a 50-day simple moving average of $86.21 and a 200-day simple moving average of $80.91. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. Tidewater has a one year low of $46.65 and a one year high of $101.57. The company has a market cap of $4.31 billion, a PE ratio of 17.52 and a beta of 0.56.

Tidewater (NYSE:TDW) last issued 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 analyst estimates of $329.97 million. During the same period last year, the business earned $1.46 EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Tidewater will post 3.08 EPS for the current fiscal year.

Insider Buying and Selling at Tidewater

In other news, EVP Daniel A. Hudson sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $99.08, for a total value of $1,486,200.00. Following the completion of the transaction, the executive vice president owned 33,029 shares in the company, valued at approximately $3,272,513.32. This represents a 31.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samuel R. Rubio sold 17,705 shares of the 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 directly owned 33,214 shares in the company, valued at $3,041,073.84. This trade represents 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 three months. Insiders own 5.90% of the company’s stock.

Institutional Trading of Tidewater

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. acquired a new stake in shares of Tidewater in the 1st quarter valued at about $26,000. Public Employees Retirement System of Ohio purchased a new stake in Tidewater in the second quarter valued at approximately $27,000. Longview Financial Advisors Inc. purchased a new stake in Tidewater in the first quarter valued at approximately $54,000. Parallel Advisors LLC boosted its holdings in shares of Tidewater by 37.3% in the first quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 208 shares during the period. Finally, Clearstead Advisors LLC boosted its holdings in shares of Tidewater by 22.2% in the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 158 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Company Profile

Tidewater Inc (NYSE: TDW) is a provider of offshore support services to the global energy industry. The company owns and operates a fleet of offshore support vessels that transport personnel, equipment and supplies, tow and position offshore structures, and support construction, maintenance and other activities at sea.

Its fleet includes platform supply vessels, anchor-handling vessels, crew boats and other specialized vessels used in offshore exploration and production. Tidewater also provides marine logistics and support for offshore wind and other marine infrastructure projects, serving customers involved in both traditional energy and emerging offshore industries.

Founded in 1955, Tidewater began by serving the offshore oil and gas industry in the Gulf of Mexico and expanded internationally as offshore development grew.