Tidewater Inc. (NYSE:TDW) Receives $69.33 Average PT from Brokerages

Tidewater Inc. (NYSE:TDW) has been assigned a consensus recommendation of “Hold” from the five research firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $69.33.

A number of equities research analysts have recently weighed in on TDW shares. Raymond James Financial reduced their price objective on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. BTIG Research cut shares of Tidewater from a “buy” rating to a “neutral” rating in a research report on Monday.

Insider Transactions at Tidewater

In other news, Director Robert Robotti purchased 15,000 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were acquired at an average cost of $42.05 per share, for a total transaction of $630,750.00. Following the completion of the purchase, the director directly owned 2,234,957 shares in the company, valued at $93,979,941.85. The trade was a 0.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel A. Hudson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $50.02, for a total transaction of $250,100.00. Following the sale, the executive vice president directly owned 85,986 shares in the company, valued at approximately $4,301,019.72. This represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 25,560 shares of company stock worth $1,074,858. Company insiders own 8.33% of the company’s stock.

Institutional Trading of Tidewater

Several institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its position in Tidewater by 2,321.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 650 shares during the last quarter. Bogart Wealth LLC acquired a new position in Tidewater during the first quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Tidewater during the first quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd increased its position in Tidewater by 2,510.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 992 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 954 shares during the last quarter. Finally, AlphaQuest LLC increased its position in shares of Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 511 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Stock Performance

NYSE:TDW opened at $46.33 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.00 and a current ratio of 2.07. The stock has a market capitalization of $2.29 billion, a P/E ratio of 13.87 and a beta of 1.08. The company has a 50 day moving average price of $45.00 and a 200 day moving average price of $45.58. Tidewater has a fifty-two week low of $31.17 and a fifty-two week high of $108.44.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.59 by $0.24. Tidewater had a net margin of 12.98% and a return on equity of 15.97%. During the same period in the previous year, the firm posted $0.89 earnings per share. Tidewater’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research 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.