Tidewater (NYSE:TDW) Price Target Increased to $130.00 by Analysts at BTIG Research

Tidewater (NYSE:TDW - Free Report) had its price objective boosted by BTIG Research from $110.00 to $130.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the oil and gas company's stock.

A number of other research analysts have also recently commented on TDW. Pickering Energy Partners initiated coverage on shares of Tidewater in a report on Tuesday, January 30th. They issued an outperform rating on the stock. StockNews.com raised shares of Tidewater from a sell rating to a hold rating in a research note on Monday, March 4th. Evercore ISI increased their price objective on Tidewater from $87.00 to $89.00 and gave the stock an outperform rating in a research note on Monday, March 4th. Finally, Johnson Rice began coverage on Tidewater in a research report on Friday, February 9th. They set a buy rating and a $88.00 target price for the company. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $98.00.

Tidewater Trading Down 2.1 %

Shares of TDW stock traded down $2.21 during trading hours on Friday, reaching $104.76. 803,997 shares of the stock were exchanged, compared to its average volume of 711,044. The company has a current ratio of 1.81, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59. Tidewater has a 12-month low of $42.61 and a 12-month high of $111.42. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 41.74 and a beta of 1.21. The company's 50-day moving average price is $92.82 and its 200-day moving average price is $75.47.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.40. The firm had revenue of $321.20 million for the quarter, compared to the consensus estimate of $312.05 million. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. The company's revenue for the quarter was up 66.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. As a group, equities analysts anticipate that Tidewater will post 4.68 earnings per share for the current year.

Tidewater announced that its Board of Directors has authorized a share repurchase program on Thursday, February 29th that authorizes the company to buyback $48.60 million in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 1.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Tidewater

In related news, Director Robert Robotti sold 1,494 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $107.53, for a total transaction of $160,649.82. Following the completion of the sale, the director now owns 2,854,100 shares of the company's stock, valued at $306,901,373. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tidewater news, EVP Daniel A. Hudson sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total transaction of $656,000.00. Following the transaction, the executive vice president now owns 104,312 shares in the company, valued at approximately $8,553,584. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Robotti sold 1,494 shares of Tidewater stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $107.53, for a total transaction of $160,649.82. Following the sale, the director now owns 2,854,100 shares of the company's stock, valued at $306,901,373. The disclosure for this sale can be found here. Insiders have sold a total of 266,479 shares of company stock valued at $27,767,870 over the last quarter. 9.59% of the stock is owned by corporate insiders.

Institutional Trading of Tidewater

Several large investors have recently added to or reduced their stakes in TDW. Raymond James Financial Services Advisors Inc. lifted its position in Tidewater by 71.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 39,145 shares of the oil and gas company's stock valued at $2,823,000 after purchasing an additional 16,338 shares during the period. Sheets Smith Wealth Management purchased a new position in shares of Tidewater during the 4th quarter valued at approximately $510,000. Cerity Partners LLC acquired a new stake in Tidewater during the fourth quarter valued at $25,322,000. FMR LLC raised its position in shares of Tidewater by 1,294.4% in the third quarter. FMR LLC now owns 1,064,896 shares of the oil and gas company's stock worth $75,682,000 after acquiring an additional 988,528 shares during the period. Finally, Must Asset Management Inc. purchased a new position in shares of Tidewater in the 3rd quarter valued at about $3,588,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Tidewater Company Profile

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.