Tidewater Inc. (NYSE:TDW – Get Free Report) has been assigned an average rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $89.3333.
Several research firms have recently issued reports on TDW. Barclays raised their target price on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Zacks Research upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Raymond James Financial set a $117.00 target price on shares of Tidewater in a report on Tuesday, March 3rd. Finally, Dawson James restated an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd.
View Our Latest Stock Report on TDW
Tidewater Price Performance
Tidewater (NYSE:TDW – Get Free Report) last released its earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.63). The firm had revenue of $326.22 million during the quarter, compared to the consensus estimate of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.Tidewater’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. As a group, equities research analysts forecast that Tidewater will post 3.52 EPS for the current year.
Insider Activity
In other news, EVP Samuel R. Rubio sold 22,461 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the sale, the executive vice president owned 60,066 shares in the company, valued at approximately $4,808,283.30. This trade represents a 27.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel A. Hudson sold 5,195 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.56, for a total transaction of $418,509.20. Following the completion of the transaction, the executive vice president directly owned 45,971 shares in the company, valued at $3,703,423.76. This represents a 10.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 42,656 shares of company stock valued at $3,379,012 in the last 90 days. Company insiders own 5.90% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. purchased a new position in Tidewater in the 1st quarter worth about $26,000. Hantz Financial Services Inc. increased its stake in Tidewater by 401.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock worth $28,000 after buying an additional 413 shares during the period. Blume Capital Management Inc. increased its stake in Tidewater by 128.3% in the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock worth $28,000 after buying an additional 295 shares during the period. Longview Financial Advisors Inc. purchased a new position in Tidewater in the 1st quarter worth about $54,000. Finally, Parallel Advisors LLC increased its stake in Tidewater by 37.3% in the 1st quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock worth $64,000 after buying an additional 208 shares during the period. Hedge funds and other 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.
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