Tidewater Inc. (NYSE:TDW) Receives $111.25 Average Price Target from Analysts

Tidewater Inc. (NYSE:TDW) has received a consensus recommendation of “Buy” from the five ratings firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $111.25.

A number of equities research analysts recently issued reports on the stock. BTIG Research upped their price objective on shares of Tidewater from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Raymond James boosted their price target on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 8th.

Insider Activity at Tidewater

In other Tidewater news, Director Robert Robotti sold 70,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $107.23, for a total transaction of $7,506,100.00. Following the completion of the transaction, the director now owns 2,279,097 shares of the company’s stock, valued at approximately $244,387,571.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Kenneth Traub sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $106.38, for a total transaction of $2,127,600.00. Following the transaction, the director now owns 68,802 shares of the company’s stock, valued at $7,319,156.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Robotti sold 70,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $107.23, for a total transaction of $7,506,100.00. Following the completion of the sale, the director now owns 2,279,097 shares in the company, valued at $244,387,571.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 342,909 shares of company stock worth $35,982,085. 8.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Tidewater

Several hedge funds have recently made changes to their positions in the stock. Cerity Partners LLC acquired a new position in Tidewater in the 4th quarter valued at approximately $25,322,000. Vontobel Holding Ltd. acquired a new position in shares of Tidewater in the fourth quarter valued at $326,000. VELA Investment Management LLC lifted its position in Tidewater by 11.1% in the fourth quarter. VELA Investment Management LLC now owns 21,100 shares of the oil and gas company’s stock worth $1,522,000 after purchasing an additional 2,102 shares during the period. Xponance Inc. acquired a new stake in Tidewater during the fourth quarter worth $204,000. Finally, Parkside Financial Bank & Trust bought a new stake in Tidewater in the 4th quarter valued at $33,000. Institutional investors own 95.13% of the company’s stock.

Tidewater Stock Up 0.2 %

Shares of Tidewater stock opened at $85.30 on Thursday. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 33.98 and a beta of 1.20. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. Tidewater has a 52-week low of $54.53 and a 52-week high of $111.42. The stock has a 50-day simple moving average of $95.66 and a 200-day simple moving average of $91.01.

Tidewater (NYSE:TDW) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The firm had revenue of $339.20 million during the quarter, compared to analysts’ expectations of $331.85 million. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s revenue was up 57.8% compared to the same quarter last year. On average, equities research analysts expect that Tidewater will post 4.4 earnings per share for the current fiscal year.

Tidewater declared that its board has initiated a share repurchase plan on Thursday, May 2nd that permits the company to repurchase $18.10 million in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 0.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

About Tidewater

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.