Shares of Tidewater Inc. (NYSE:TDW – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $98.25.
A number of equities analysts have commented on the stock. Barclays boosted their target price on shares of Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Weiss Ratings raised shares of Tidewater from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 12th. Finally, BTIG Research restated a “buy” rating and issued a $120.00 price target on shares of Tidewater in a report on Friday, October 9th.
Tidewater Trading Down 1.6%
Shares of NYSE:TDW opened at $77.80 on Friday. Tidewater has a 12-month low of $49.54 and a 12-month high of $101.57. The business’s fifty day simple moving average is $86.57 and its 200-day simple moving average is $79.33. The company has a market capitalization of $3.87 billion, a PE ratio of 15.75 and a beta of 0.63. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47.
Tidewater (NYSE:TDW – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%. The company had revenue of $342.29 million during the quarter, compared to the consensus estimate of $329.97 million. During the same period in the previous year, the firm posted $1.46 earnings per share. The company’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts predict that Tidewater will post 3.08 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Tidewater news, Director Kenneth Traub sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the sale, the director directly owned 63,521 shares in the company, valued at $6,288,579. This trade represents a 13.60% 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, EVP Daniel A. Hudson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $99.08, for a total transaction of $1,486,200.00. Following the completion of the sale, the executive vice president owned 33,029 shares of the company’s stock, valued at approximately $3,272,513.32. This trade 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 sold a total of 42,705 shares of company stock worth $4,097,270 in the last 90 days. 5.90% of the stock is owned by corporate insiders.
Institutional Trading of Tidewater
Several hedge funds and other institutional investors have recently made changes to their positions in TDW. Salomon & Ludwin LLC increased its stake in Tidewater by 35.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 492 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 130 shares in the last quarter. Kendall Capital Management raised its holdings in shares of Tidewater by 0.9% in the third quarter. Kendall Capital Management now owns 16,220 shares of the oil and gas company’s stock worth $1,315,000 after buying an additional 140 shares during the last quarter. Baron Wealth Management LLC lifted its stake in shares of Tidewater by 4.5% during the second quarter. Baron Wealth Management LLC now owns 3,286 shares of the oil and gas company’s stock worth $219,000 after buying an additional 141 shares during the period. GAMMA Investing LLC lifted its stake in shares of 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 during the period. Finally, Covestor Ltd lifted its stake in shares of Tidewater by 34.2% during the third quarter. Covestor Ltd now owns 781 shares of the oil and gas company’s stock worth $63,000 after buying an additional 199 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.
Tidewater Company Profile
Tidewater Inc (NYSE: TDW) is an offshore support vessel operator that provides marine transportation and logistics services to the global energy industry. The company supports offshore exploration, development, production, construction and decommissioning activities, transporting personnel, equipment and supplies between shore bases and offshore installations.
Tidewater operates a diverse fleet of vessels, including platform supply vessels, anchor-handling vessels, fast supply vessels, crew boats, tugboats and vessels used for subsea construction, survey and other specialized offshore work.
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