Shares of Tidewater Inc. (NYSE:TDW – Get Free Report) have been given an average recommendation of “Moderate Buy” by the ten research firms that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $98.25.
Several research analysts have weighed in on TDW shares. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Weiss Ratings cut Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. BTIG Research upgraded Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, September 1st. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Finally, Zacks Research downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th.
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Tidewater Price Performance
Tidewater (NYSE:TDW – Get Free Report) last posted its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The company had revenue of $342.29 million for the quarter, compared to analyst estimates of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 EPS. Equities analysts expect that Tidewater will post 3.08 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Kenneth Traub sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the transaction, the director directly owned 63,521 shares in the company, valued at approximately $6,288,579. This represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Daniel A. Hudson sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $99.08, for a total transaction of $1,486,200.00. Following the transaction, the executive vice president directly owned 33,029 shares in the company, valued at approximately $3,272,513.32. This represents a 31.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,705 shares of company stock worth $4,097,270 in the last 90 days. Company insiders own 5.90% of the company’s stock.
Institutional Trading of Tidewater
A number of institutional investors have recently bought and sold shares of TDW. Inspire Investing LLC increased its holdings in shares of Tidewater by 1.2% during the first quarter. Inspire Investing LLC now owns 11,332 shares of the oil and gas company’s stock worth $947,000 after purchasing an additional 131 shares during the period. Baron Wealth Management LLC boosted its stake in shares of Tidewater by 4.5% in the second quarter. Baron Wealth Management LLC now owns 3,286 shares of the oil and gas company’s stock valued at $219,000 after buying an additional 141 shares during the period. Lido Advisors LLC boosted its stake in shares of Tidewater by 2.8% in the fourth quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock valued at $290,000 after buying an additional 149 shares during the period. Clearstead Advisors LLC grew its position in Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after buying an additional 158 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Tidewater by 5.8% during the second quarter. GAMMA Investing LLC now owns 3,015 shares of the oil and gas company’s stock worth $201,000 after buying an additional 164 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.
Tidewater Company Profile
Tidewater Inc (NYSE: TDW) is a provider of offshore support services to the global energy industry. The company owns and operates a fleet of offshore support vessels that transport personnel, equipment and supplies, tow and position offshore structures, and support construction, maintenance and other activities at sea.
Its fleet includes platform supply vessels, anchor-handling vessels, crew boats and other specialized vessels used in offshore exploration and production. Tidewater also provides marine logistics and support for offshore wind and other marine infrastructure projects, serving customers involved in both traditional energy and emerging offshore industries.
Founded in 1955, Tidewater began by serving the offshore oil and gas industry in the Gulf of Mexico and expanded internationally as offshore development grew.
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