Tidewater Inc. (NYSE:TDW) Given Consensus Rating of “Buy” by Brokerages

Shares of Tidewater Inc. (NYSE:TDW) have received an average recommendation of “Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $93.00.

TDW has been the topic of several recent research reports. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Johnson Rice started coverage on Tidewater in a research note on Friday, February 9th. They issued a “buy” rating and a $88.00 target price on the stock. Evercore ISI boosted their target price on shares of Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. BTIG Research raised their price target on shares of Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Pickering Energy Partners began coverage on shares of Tidewater in a research note on Tuesday, January 30th. They set an “outperform” rating for the company.

Tidewater Stock Down 1.5 %

NYSE:TDW opened at $107.16 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.74. Tidewater has a 1-year low of $40.65 and a 1-year high of $111.42. The company has a 50-day moving average of $91.59 and a 200 day moving average of $75.01. The firm has a market cap of $5.65 billion, a PE ratio of 42.69 and a beta of 1.21.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.49 by $0.40. The business had revenue of $321.20 million during the quarter, compared to analyst estimates of $312.05 million. Tidewater had a net margin of 11.73% and a return on equity of 16.24%. The company’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 EPS. As a group, research analysts anticipate that Tidewater will post 4.94 EPS for the current fiscal year.

Tidewater declared that its board has initiated a share buyback program on Thursday, February 29th that authorizes the company to repurchase $48.60 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 1.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Tidewater

In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of Tidewater stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the completion of the sale, the chief financial officer now owns 98,036 shares of the company’s stock, valued at approximately $7,976,208.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the completion of the transaction, the chief financial officer now directly owns 98,036 shares of the company’s stock, valued at approximately $7,976,208.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel A. Hudson sold 8,000 shares of Tidewater stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total transaction of $656,000.00. Following the sale, the executive vice president now owns 104,312 shares of the company’s stock, valued at $8,553,584. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,462 shares of company stock worth $3,716,739. Company insiders own 9.59% of the company’s stock.

Institutional Investors Weigh In On Tidewater

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Tidewater by 71.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 39,145 shares of the oil and gas company’s stock valued at $2,823,000 after buying an additional 16,338 shares during the period. Sheets Smith Wealth Management acquired a new position in Tidewater in the fourth quarter valued at approximately $510,000. Cerity Partners LLC purchased a new stake in Tidewater in the 4th quarter worth approximately $25,322,000. FMR LLC grew its stake in shares of Tidewater by 1,294.4% during the 3rd quarter. FMR LLC now owns 1,064,896 shares of the oil and gas company’s stock worth $75,682,000 after purchasing an additional 988,528 shares during the period. Finally, Must Asset Management Inc. acquired a new stake in shares of Tidewater during the 3rd quarter worth approximately $3,588,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Company Profile

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.