Tidewater Inc. (NYSE:TDW – Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $81.37 and traded as high as $86.62. Tidewater shares last traded at $82.0460, with a volume of 453,444 shares.
Analysts Set New Price Targets
TDW has been the topic of a number of research analyst reports. BTIG Research upgraded Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, September 1st. Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Barclays upped their price target on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings upgraded Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Tidewater has an average rating of “Moderate Buy” and an average price target of $98.25.
Get Our Latest Analysis on Tidewater
Tidewater Stock Up 1.5%
Tidewater (NYSE:TDW – Get Free Report) last released its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The company had revenue of $342.29 million during the quarter, compared to analysts’ expectations of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The company’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. Sell-side analysts predict that Tidewater Inc. will post 3.08 EPS for the current fiscal year.
Insider Transactions at Tidewater
In related news, EVP Samuel R. Rubio sold 17,705 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the sale, the executive vice president owned 33,214 shares of the company’s stock, valued at $3,041,073.84. This trade represents a 34.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth Traub sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the transaction, the director owned 63,521 shares of the company’s stock, valued at approximately $6,288,579. The trade was a 13.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 42,705 shares of company stock worth $4,097,270. Corporate insiders own 5.90% of the company’s stock.
Institutional Trading of Tidewater
Institutional investors and hedge funds have recently modified their holdings of the business. Punch & Associates Investment Management Inc. bought a new position in Tidewater during the second quarter valued at approximately $22,811,000. Legal & General Group Plc bought a new stake in Tidewater in the 2nd quarter worth approximately $5,470,000. Readystate Asset Management LP purchased a new stake in Tidewater during the 1st quarter valued at $1,662,000. Robotti Robert purchased a new stake in Tidewater during the 2nd quarter valued at $193,652,000. Finally, Kendall Capital Management bought a new position in shares of Tidewater during the 2nd quarter valued at $1,071,000. Institutional investors own 95.13% of the company’s stock.
About Tidewater
Tidewater Inc is a global provider of offshore marine support services to the energy industry. The company operates a fleet of offshore support vessels that transport personnel, equipment and supplies to offshore facilities and assist with marine logistics, construction, maintenance and other activities.
Its vessel portfolio includes platform supply vessels, anchor-handling tug supply vessels, fast support vessels and other specialized ships designed for offshore operations. Tidewater serves customers involved in offshore oil and gas development, as well as selected activities associated with offshore wind and other marine energy projects.
Founded in 1955, Tidewater is headquartered in Houston, Texas, and serves offshore markets across regions including the Americas, Europe, the Middle East, Africa and Asia-Pacific.
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