Tidewater Inc. (NYSE:TDW) Receives $91.60 Consensus Price Target from Brokerages

Shares of Tidewater Inc. (NYSE:TDW) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $91.60.

Several analysts have weighed in on TDW shares. DNB Markets assumed coverage on shares of Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 price target for the company. Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $131.00 to $102.00 in a research note on Monday, November 11th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Pickering Energy Partners downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and cut their target price for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th.

Insider Transactions at Tidewater

In related news, CEO Quintin Kneen purchased 41,615 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the purchase, the chief executive officer now directly owns 176,239 shares in the company, valued at approximately $8,470,046.34. This represents a 30.91 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 8.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Centiva Capital LP bought a new stake in shares of Tidewater during the third quarter valued at approximately $958,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Tidewater during the 2nd quarter valued at $1,241,000. Raymond James & Associates grew its position in shares of Tidewater by 11.9% in the 3rd quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company’s stock worth $6,725,000 after buying an additional 9,952 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Tidewater by 23.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company’s stock worth $8,431,000 after acquiring an additional 29,721 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its stake in shares of Tidewater by 103.0% in the 4th quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company’s stock worth $5,288,000 after acquiring an additional 49,050 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Trading Down 0.0 %

Shares of TDW stock opened at $54.93 on Thursday. The business has a 50-day moving average price of $52.74 and a two-hundred day moving average price of $66.26. Tidewater has a 12-month low of $46.50 and a 12-month high of $111.42. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The firm has a market cap of $2.87 billion, a P/E ratio of 16.15 and a beta of 1.04.

Tidewater (NYSE:TDW) last released its earnings results on Thursday, November 7th. The oil and gas company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. The company had revenue of $340.36 million during the quarter, compared to the consensus estimate of $339.65 million. During the same quarter in the previous year, the company posted $0.77 EPS. Equities analysts anticipate that Tidewater will post 3.25 EPS for the current fiscal year.

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.