Tidewater Inc. (NYSE:TDW) Given Consensus Recommendation of “Buy” by Analysts

Tidewater Inc. (NYSE:TDW) has been assigned a consensus rating of “Buy” from the five analysts that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $111.25.

A number of analysts have weighed in on the company. Raymond James raised their price target on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 8th. BTIG Research upped their price target on Tidewater from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, May 10th.

Tidewater Stock Up 0.2 %

Shares of NYSE TDW opened at $85.30 on Thursday. The stock has a market cap of $4.48 billion, a P/E ratio of 33.98 and a beta of 1.20. The business’s fifty day simple moving average is $95.66 and its 200-day simple moving average is $91.01. Tidewater has a 12-month low of $54.53 and a 12-month high of $111.42. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.22. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The business had revenue of $339.20 million during the quarter, compared to the consensus estimate of $331.85 million. During the same period in the previous year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was up 57.8% on a year-over-year basis. As a group, equities analysts predict that Tidewater will post 4.4 EPS for the current fiscal year.

Tidewater announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 2nd that allows the company to buyback $18.10 million in shares. This buyback authorization allows the oil and gas company to buy up to 0.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Tidewater

In related news, Director Robert Robotti sold 58,493 shares of Tidewater stock in a transaction on Friday, May 17th. The shares were sold at an average price of $105.44, for a total value of $6,167,501.92. Following the transaction, the director now directly owns 2,349,097 shares in the company, valued at approximately $247,688,787.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tidewater news, Director Robert Robotti sold 58,493 shares of Tidewater stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $105.44, for a total value of $6,167,501.92. Following the sale, the director now owns 2,349,097 shares of the company’s stock, valued at approximately $247,688,787.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Darron M. Anderson sold 1,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $102.11, for a total value of $178,692.50. Following the transaction, the director now directly owns 41,447 shares of the company’s stock, valued at $4,232,153.17. The disclosure for this sale can be found here. Insiders have sold 342,909 shares of company stock worth $35,982,085 in the last quarter. Company insiders own 8.33% of the company’s stock.

Institutional Investors Weigh In On Tidewater

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in Tidewater by 135.4% during the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after buying an additional 153 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of Tidewater during the 1st quarter worth approximately $28,000. Hollencrest Capital Management acquired a new stake in shares of Tidewater in the 2nd quarter worth approximately $30,000. PNC Financial Services Group Inc. increased its stake in Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 156 shares in the last quarter. Finally, Parkside Financial Bank & Trust acquired a new position in Tidewater during the fourth quarter worth $33,000. 95.13% of the stock is currently 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.