Tidewater (NYSE:TDW) Stock Rating Lowered by StockNews.com

Tidewater (NYSE:TDW) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other brokerages have also commented on TDW. Raymond James started coverage on shares of Tidewater in a research note on Thursday, July 13th. They issued a “strong-buy” rating and a $85.00 price target for the company. BTIG Research lifted their price target on shares of Tidewater from $75.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tidewater presently has an average rating of “Moderate Buy” and a consensus price target of $88.67.

Tidewater Stock Up 0.7 %

NYSE:TDW opened at $60.35 on Friday. The firm has a market cap of $3.19 billion, a P/E ratio of 45.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.88 and a current ratio of 1.73. Tidewater has a fifty-two week low of $28.14 and a fifty-two week high of $73.55. The firm has a 50-day simple moving average of $67.82 and a two-hundred day simple moving average of $58.25.

Insider Buying and Selling

In other news, Director Robert Robotti purchased 1,486 shares of the stock in a transaction on Thursday, September 7th. The shares were acquired at an average price of $67.32 per share, with a total value of $100,037.52. Following the completion of the acquisition, the director now directly owns 3,235,657 shares of the company’s stock, valued at $217,824,429.24. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Samuel R. Rubio sold 21,788 shares of Tidewater stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $62.37, for a total transaction of $1,358,917.56. Following the sale, the chief financial officer now owns 117,677 shares in the company, valued at $7,339,514.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Robotti acquired 1,486 shares of Tidewater stock in a transaction dated Thursday, September 7th. The shares were bought at an average price of $67.32 per share, for a total transaction of $100,037.52. Following the transaction, the director now owns 3,235,657 shares of the company’s stock, valued at $217,824,429.24. The disclosure for this purchase can be found here. 9.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tidewater

Several institutional investors and hedge funds have recently modified their holdings of TDW. Slate Path Capital LP bought a new stake in Tidewater in the first quarter worth $40,906,000. Renaissance Technologies LLC increased its position in Tidewater by 112.4% in the first quarter. Renaissance Technologies LLC now owns 758,283 shares of the oil and gas company’s stock worth $33,425,000 after purchasing an additional 401,200 shares during the last quarter. Millennium Management LLC increased its position in Tidewater by 867.1% in the fourth quarter. Millennium Management LLC now owns 303,646 shares of the oil and gas company’s stock worth $11,189,000 after purchasing an additional 272,248 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Tidewater by 16.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,823,664 shares of the oil and gas company’s stock worth $80,389,000 after purchasing an additional 263,179 shares during the last quarter. Finally, Tejara Capital Ltd bought a new stake in Tidewater in the fourth quarter worth $9,322,000. Institutional investors own 84.19% of the company’s stock.

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 crude oil and natural 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.