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

Shares of Tidewater Inc. (NYSE:TDW) have earned a consensus recommendation of “Buy” from the five analysts that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $93.00.

A number of research analysts recently commented on the stock. Pickering Energy Partners started coverage on shares of Tidewater in a research report on Tuesday, January 30th. They issued an “outperform” rating on the stock. BTIG Research lifted their price target on shares of Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Johnson Rice assumed 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 increased their price target on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Finally, StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a report on Monday, March 4th.

Tidewater Stock Down 1.5 %

Shares of TDW opened at $107.16 on Thursday. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 42.69 and a beta of 1.21. The stock has a 50 day moving average price of $91.59 and a 200 day moving average price of $75.01. Tidewater has a one year low of $40.65 and a one year high of $111.42. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.81.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.40. The company had revenue of $321.20 million for the quarter, compared to analysts’ expectations of $312.05 million. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. During the same period in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue was up 66.3% compared to the same quarter last year. Equities research analysts forecast that Tidewater will post 4.94 earnings per share for the current fiscal year.

Tidewater announced that its board has approved a stock repurchase plan on Thursday, February 29th that allows the company to repurchase $48.60 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 1.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Tidewater news, 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 value of $656,000.00. Following the transaction, the executive vice president now owns 104,312 shares in the company, valued at $8,553,584. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, COO David E. Darling sold 17,821 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $82.08, for a total value of $1,462,747.68. Following the completion of the sale, the chief operating officer now owns 85,959 shares in the company, valued at $7,055,514.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Daniel A. Hudson sold 8,000 shares of Tidewater stock in a transaction dated 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 in the company, valued at $8,553,584. The disclosure for this sale can be found here. Insiders sold 45,462 shares of company stock worth $3,716,739 over the last three months. Corporate insiders own 9.59% of the company’s stock.

Institutional Investors Weigh In On Tidewater

Large investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC acquired a new stake in shares of Tidewater during the third quarter worth $1,972,000. Raymond James & Associates raised its position in shares of Tidewater by 158.1% in the third quarter. Raymond James & Associates now owns 77,843 shares of the oil and gas company’s stock valued at $5,532,000 after buying an additional 47,686 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Tidewater in the third quarter worth $1,621,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Tidewater by 7.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,711 shares of the oil and gas company’s stock worth $1,543,000 after acquiring an additional 1,412 shares in the last quarter. Finally, High Ground Investment Management LLP lifted its position in shares of Tidewater by 11.7% during the 3rd quarter. High Ground Investment Management LLP now owns 236,390 shares of the oil and gas company’s stock worth $16,800,000 after buying an additional 24,708 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

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.