Tidewater Inc. (NYSE:TDW) Receives Average Rating of “Buy” from Analysts

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

Several equities research analysts have issued reports on the stock. Pickering Energy Partners initiated coverage on shares of Tidewater in a research note on Tuesday, January 30th. They set an “outperform” rating on the stock. Johnson Rice started coverage on shares of Tidewater in a research note on Friday, February 9th. They issued a “buy” rating and a $88.00 target price for the company. BTIG Research increased their price target on Tidewater from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Evercore ISI lifted their price objective on Tidewater from $87.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Finally, StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Monday, March 4th.

Insider Activity at Tidewater

In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the completion of the sale, the chief financial officer now directly owns 98,036 shares in the company, valued at $7,976,208.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of Tidewater stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the transaction, the chief financial officer now directly owns 98,036 shares of the company’s stock, valued at $7,976,208.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Daniel A. Hudson sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was 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 of the company’s stock, valued at $8,553,584. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,462 shares of company stock worth $3,716,739. 9.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TDW. PNC Financial Services Group Inc. raised its holdings in shares of Tidewater by 71.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 156 shares during the period. Precision Wealth Strategies LLC lifted its position in shares of Tidewater by 8.5% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company’s stock worth $243,000 after purchasing an additional 264 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Tidewater by 36.0% in the first quarter. Tower Research Capital LLC TRC now owns 1,021 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 270 shares during the period. Meixler Investment Management Ltd. grew its holdings in Tidewater by 1.9% during the 4th quarter. Meixler Investment Management Ltd. now owns 15,448 shares of the oil and gas company’s stock valued at $1,114,000 after purchasing an additional 284 shares in the last quarter. Finally, Mariner LLC increased its stake in Tidewater by 6.9% during the 3rd quarter. Mariner LLC now owns 5,794 shares of the oil and gas company’s stock worth $412,000 after buying an additional 374 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Trading Down 1.3 %

Shares of Tidewater stock opened at $96.89 on Friday. Tidewater has a 1 year low of $39.41 and a 1 year high of $101.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.80 and a quick ratio of 1.70. The business has a 50 day moving average price of $82.01 and a 200 day moving average price of $71.64. The company has a market capitalization of $5.06 billion, a P/E ratio of 52.95 and a beta of 1.20.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). The company had revenue of $302.66 million during the quarter, compared to analyst estimates of $309.46 million. Tidewater had a return on equity of 13.37% and a net margin of 9.62%. The business’s revenue was up 62.1% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. Sell-side analysts anticipate that Tidewater will post 4.94 EPS for the current fiscal year.

Tidewater declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 29th that permits the company to repurchase $48.60 million in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 1.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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.