Tidewater Inc. (NYSE:TDW) Receives Average Rating of “Hold” from Brokerages

Shares of Tidewater Inc. (NYSE:TDW) have been assigned an average rating of “Hold” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $67.50.

A number of brokerages have weighed in on TDW. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Raymond James Financial reissued an “outperform” rating on shares of Tidewater in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Finally, Evercore cut their price objective on Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 12th.

Insider Activity at Tidewater

In related news, EVP Daniel A. Hudson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the transaction, the executive vice president directly owned 50,986 shares of the company’s stock, valued at approximately $3,951,415. The trade was a 22.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.60% of the company’s stock.

Institutional Trading of Tidewater

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Robotti Robert boosted its stake in Tidewater by 3.3% during the 2nd quarter. Robotti Robert now owns 2,951,533 shares of the oil and gas company’s stock valued at $136,154,000 after acquiring an additional 94,902 shares during the last quarter. State Street Corp raised its stake in shares of Tidewater by 4.7% in the 4th quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock valued at $96,064,000 after purchasing an additional 85,697 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tidewater by 14.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,752,685 shares of the oil and gas company’s stock worth $88,529,000 after purchasing an additional 215,145 shares during the last quarter. Cerity Partners LLC grew its stake in Tidewater by 104.3% in the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after purchasing an additional 583,607 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Tidewater by 74.2% in the third quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock valued at $51,698,000 after buying an additional 412,911 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Tidewater Stock Performance

Tidewater stock opened at $78.81 on Tuesday. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 26.54 and a beta of 0.64. Tidewater has a 12 month low of $31.17 and a 12 month high of $82.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79. The stock’s 50-day moving average is $59.78 and its 200-day moving average is $56.67.

Tidewater Company Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.