Tidewater Inc. (NYSE:TDW) Receives Consensus Rating of “Buy” from Analysts

Shares of Tidewater Inc. (NYSE:TDW) have received an average recommendation of “Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $95.80.

Several analysts have recently commented on TDW shares. DNB Markets assumed coverage on shares of Tidewater in a report on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective on the stock. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $131.00 to $102.00 in a research note on Monday, November 11th.

Insider Buying and Selling at Tidewater

In other Tidewater news, CEO Quintin Kneen bought 41,615 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the transaction, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at approximately $8,470,046.34. The trade was a 30.91 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in Tidewater in the 2nd quarter worth $27,000. Hollencrest Capital Management acquired a new stake in shares of Tidewater in the second quarter valued at about $30,000. Fortitude Family Office LLC acquired a new position in shares of Tidewater during the 4th quarter worth about $33,000. GAMMA Investing LLC lifted its stake in Tidewater by 163.5% in the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 435 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. acquired a new stake in Tidewater in the 3rd quarter worth about $65,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Tidewater Price Performance

Shares of NYSE TDW opened at $55.46 on Friday. Tidewater has a 52 week low of $46.50 and a 52 week high of $111.42. The business’s 50 day moving average price is $52.60 and its 200 day moving average price is $71.57. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The firm has a market cap of $2.90 billion, a P/E ratio of 16.31 and a beta of 1.06.

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.