Tidewater Inc. (NYSE:TDW) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts rate Tidewater “Moderate Buy.” Six analysts recommend holding, three recommend buying and one gives a strong-buy rating, with an average 12-month price target of $98.25 versus the latest price of $82.05.
• Tidewater’s latest quarterly results were mixed: revenue of $342.29 million exceeded estimates, but earnings per share of $0.43 fell short of the $0.46 consensus. Analysts expect full-year EPS of approximately $3.08.
• Insiders sold 42,705 shares worth about $4.1 million over the past three months, while institutional investors and hedge funds own 95.13% of the company.

Tidewater Inc. (NYSE:TDW - Get Free Report) has been given an average rating of "Moderate Buy" by the ten research firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $98.25.

A number of research firms have commented on TDW. Barclays lifted their target price on Tidewater from $86.00 to $91.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. BTIG Research raised Tidewater from a "neutral" rating to a "buy" rating and set a $120.00 price objective for the company in a research report on Tuesday, September 1st. Pickering Energy Partners raised Tidewater from an "underperform" rating to a "neutral" rating in a research report on Thursday, June 11th. Finally, Weiss Ratings upgraded shares of Tidewater from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, September 11th.

Insider Buying and Selling at Tidewater

In other news, EVP Daniel Hudson sold 15,000 shares of the business'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 value of $1,486,200.00. Following the sale, the executive vice president directly owned 33,029 shares of the company's stock, valued at approximately $3,272,513.32. The trade was a 31.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samuel Rubio sold 17,705 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the transaction, the executive vice president owned 33,214 shares in the company, valued at approximately $3,041,073.84. This represents a 34.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,705 shares of company stock worth $4,097,270 over the last three months. Insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new stake in shares of Tidewater in the first quarter valued at $26,000. Public Employees Retirement System of Ohio acquired a new position in Tidewater during the 2nd quarter worth about $27,000. Longview Financial Advisors Inc. purchased a new position in Tidewater during the 1st quarter valued at about $54,000. Versant Capital Management Inc boosted its holdings in Tidewater by 142.6% during the 3rd quarter. Versant Capital Management Inc now owns 740 shares of the oil and gas company's stock valued at $60,000 after acquiring an additional 435 shares during the period. Finally, Parallel Advisors LLC increased its stake in Tidewater by 37.3% during the first quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company's stock worth $64,000 after purchasing an additional 208 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Stock Down 2.2%

Shares of NYSE TDW opened at $82.05 on Wednesday. The company has a market capitalization of $4.08 billion, a P/E ratio of 16.61 and a beta of 0.60. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47. The company has a 50 day simple moving average of $88.08 and a 200-day simple moving average of $81.37. Tidewater has a 1 year low of $46.65 and a 1 year high of $101.57.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data 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 business had revenue of $342.29 million during the quarter, compared to analyst estimates of $329.97 million. Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The company's revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 earnings per share. On average, equities research analysts predict that Tidewater will post 3.08 earnings per share for the current year.

Tidewater Company Profile

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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