Analysts Set Tidewater Inc. (NYSE:TDW) Price Target at $111.25

Tidewater Inc. (NYSE:TDW) has received an average rating of “Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $111.25.

TDW has been the topic of several recent analyst reports. StockNews.com cut Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Raymond James increased their price objective on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 8th.

Institutional Trading of Tidewater

Several large investors have recently bought and sold shares of the company. Sage Mountain Advisors LLC boosted its position in shares of Tidewater by 4.8% during the second quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock valued at $251,000 after purchasing an additional 120 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Tidewater by 135.4% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 153 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Tidewater by 71.6% during 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 acquiring an additional 156 shares during the period. Natixis Advisors LLC boosted its stake in Tidewater by 0.7% during the second quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock worth $2,525,000 after acquiring an additional 174 shares in the last quarter. Finally, Precision Wealth Strategies LLC grew its holdings in Tidewater by 8.5% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company’s stock worth $243,000 after purchasing an additional 264 shares during the period. 95.13% of the stock is owned by institutional investors.

Tidewater Price Performance

Shares of Tidewater stock opened at $72.00 on Friday. The stock has a market capitalization of $3.78 billion, a P/E ratio of 28.68 and a beta of 1.13. Tidewater has a one year low of $54.53 and a one year high of $111.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. The business’s 50 day simple moving average is $82.62 and its two-hundred day simple moving average is $92.47.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.22. The company had revenue of $339.20 million during the quarter, compared to analyst estimates of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The firm’s revenue was up 57.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS. Analysts forecast that Tidewater will post 4.4 EPS for the current year.

Tidewater announced that its Board of Directors has approved a stock buyback program on Tuesday, August 6th that authorizes the company to repurchase $13.90 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

About Tidewater

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.