Brokerages Set Tidewater Inc. (NYSE:TDW) Target Price at $84.50

Shares of Tidewater Inc. (NYSE:TDW) have been given an average rating of “Moderate Buy” by the five analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $84.50.

A number of analysts recently issued reports on the company. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and cut their price objective for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Raymond James dropped their price target on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Pickering Energy Partners lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th.

Insider Transactions at Tidewater

In other Tidewater news, Director Robert Robotti bought 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the purchase, the director now directly owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. This represents a 1.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TDW. Bogart Wealth LLC acquired a new stake in Tidewater in the first quarter valued at $30,000. Fortitude Family Office LLC acquired a new stake in shares of Tidewater during the 4th quarter worth about $33,000. AlphaQuest LLC lifted its stake in Tidewater by 177.4% during the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 511 shares during the last quarter. Signaturefd LLC boosted its holdings in Tidewater by 33.3% in the first quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 282 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Tidewater in the fourth quarter valued at approximately $53,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Stock Performance

NYSE:TDW opened at $41.44 on Wednesday. The company’s 50-day moving average is $38.55 and its two-hundred day moving average is $48.28. Tidewater has a 1-year low of $31.17 and a 1-year high of $110.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 12.19 and a beta of 1.00.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.24. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. Analysts forecast that Tidewater will post 3.25 EPS for the current year.

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.