Barclays Initiates Coverage on Tidewater (NYSE:TDW)

Analysts at Barclays initiated coverage on shares of Tidewater (NYSE:TDW) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage set an “equal weight” rating and a $80.00 price target on the oil and gas company’s stock. Barclays‘s price target indicates a potential downside of 5.19% from the stock’s previous close.

A number of other research firms also recently commented on TDW. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Raymond James Financial set a $117.00 price target on Tidewater in a research report on Tuesday, March 3rd. Finally, Dawson James restated an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.33.

Tidewater Stock Performance

Shares of TDW stock opened at $84.38 on Wednesday. Tidewater has a 12 month low of $31.17 and a 12 month high of $88.99. The company’s fifty day simple moving average is $73.84 and its 200-day simple moving average is $60.74. The firm has a market cap of $4.18 billion, a PE ratio of 12.63 and a beta of 0.56. The company has a quick ratio of 2.78, a current ratio of 2.90 and a debt-to-equity ratio of 0.48.

Tidewater (NYSE:TDW) last released its earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $3.64. Tidewater had a net margin of 24.74% and a return on equity of 12.34%. The business had revenue of $336.80 million during the quarter, compared to the consensus estimate of $329.39 million. During the same quarter last year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts expect that Tidewater will post 3.25 EPS for the current fiscal year.

Insider Transactions at Tidewater

In other news, EVP Samuel R. Rubio sold 22,461 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the transaction, the executive vice president directly owned 60,066 shares in the company, valued at $4,808,283.30. The trade was a 27.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel A. Hudson sold 15,000 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the completion of the sale, the executive vice president directly owned 50,986 shares in the company, valued at approximately $3,951,415. The trade was a 22.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 52,656 shares of company stock valued at $4,079,112. Insiders own 6.60% of the company’s stock.

Institutional Trading of Tidewater

Several institutional investors and hedge funds have recently bought and sold shares of TDW. State Street Corp boosted its stake in shares of Tidewater by 4.7% during the 4th quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock worth $96,064,000 after acquiring an additional 85,697 shares during the period. Dimensional Fund Advisors LP raised its stake in Tidewater by 14.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,752,685 shares of the oil and gas company’s stock valued at $88,529,000 after acquiring an additional 215,145 shares during the period. Cerity Partners LLC lifted its holdings in Tidewater by 104.3% during the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock valued at $57,730,000 after purchasing an additional 583,607 shares during the last quarter. American Century Companies Inc. lifted its holdings in Tidewater by 74.2% during the 3rd quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock valued at $51,698,000 after purchasing an additional 412,911 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in Tidewater by 14.3% during the second quarter. Frontier Capital Management Co. LLC now owns 744,237 shares of the oil and gas company’s stock worth $34,332,000 after purchasing an additional 92,884 shares during the period. Institutional investors own 95.13% of the company’s stock.

About Tidewater

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.