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

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

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

Tidewater Stock Performance

Tidewater stock opened at $85.15 on Wednesday. The firm has a 50 day simple moving average of $88.71 and a 200-day simple moving average of $81.59. Tidewater has a 1-year low of $46.65 and a 1-year high of $101.57. 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 $4.24 billion, a price-to-earnings ratio of 17.24 and a beta of 0.60.

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

Insider Buying and Selling at Tidewater

In other Tidewater news, Director Kenneth Traub sold 10,000 shares of Tidewater stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the sale, the director directly owned 63,521 shares in the company, valued at $6,288,579. This trade represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samuel Rubio sold 17,705 shares of the 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 transaction, the executive vice president directly owned 33,214 shares of the company’s stock, valued at $3,041,073.84. The trade was a 34.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,705 shares of company stock valued at $4,097,270 over the last 90 days. 5.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TDW. GAMMA Investing LLC lifted its position in shares of Tidewater by 7.3% during the third quarter. GAMMA Investing LLC now owns 3,236 shares of the oil and gas company’s stock worth $262,000 after purchasing an additional 221 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of 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 in the last quarter. Versant Capital Management Inc grew its holdings in shares of 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 in the last quarter. Tidal Investments LLC grew its holdings in shares of Tidewater by 26.1% in the second quarter. Tidal Investments LLC now owns 14,114 shares of the oil and gas company’s stock valued at $940,000 after purchasing an additional 2,923 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Tidewater during the 2nd quarter worth approximately $74,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.