Tidewater (NYSE:TDW) Trading 1.9% Higher

Tidewater Inc. (NYSE:TDW - Get Free Report) shares shot up 1.9% on Wednesday . The company traded as high as $99.67 and last traded at $98.93. 181,826 shares were traded during mid-day trading, a decline of 77% from the average session volume of 776,130 shares. The stock had previously closed at $97.09.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TDW. Evercore ISI upped their price target on shares of Tidewater from $87.00 to $89.00 and gave the stock an "outperform" rating in a research report on Monday, March 4th. StockNews.com upgraded shares of Tidewater from a "sell" rating to a "hold" rating in a research report on Monday, March 4th. BTIG Research upped their price target on shares of Tidewater from $90.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, March 19th. Johnson Rice began coverage on shares of Tidewater in a research report on Friday, February 9th. They issued a "buy" rating and a $88.00 price target for the company. Finally, Pickering Energy Partners began coverage on shares of Tidewater in a report on Tuesday, January 30th. They issued an "outperform" rating on the stock. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Tidewater presently has an average rating of "Buy" and a consensus target price of $93.00.

Tidewater Trading Up 2.1 %

The firm has a market cap of $5.18 billion, a PE ratio of 54.25 and a beta of 1.20. The company has a quick ratio of 1.70, a current ratio of 1.80 and a debt-to-equity ratio of 0.61. The company's 50 day moving average price is $80.15 and its two-hundred day moving average price is $71.02.

Tidewater (NYSE:TDW - Get Free Report) last announced its earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.03). The firm had revenue of $302.66 million during the quarter, compared to analysts' expectations of $309.46 million. Tidewater had a net margin of 9.62% and a return on equity of 13.37%. The company's revenue was up 62.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. As a group, sell-side analysts forecast that Tidewater Inc. will post 4.94 EPS for the current year.

Tidewater declared that its board has initiated a share repurchase program on Thursday, February 29th that allows the company to buyback $48.60 million in shares. This buyback authorization allows the oil and gas company to purchase up to 1.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Transactions at Tidewater

In related news, EVP Daniel A. Hudson sold 8,000 shares of Tidewater stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total value of $656,000.00. Following the sale, the executive vice president now owns 104,312 shares of the company's stock, valued at approximately $8,553,584. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Samuel R. Rubio sold 19,641 shares of Tidewater stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the transaction, the chief financial officer now owns 98,036 shares in the company, valued at approximately $7,976,208.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel A. Hudson sold 8,000 shares of Tidewater stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $82.00, for a total value 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 disclosure for this sale can be found here. Insiders have sold 45,462 shares of company stock valued at $3,716,739 in the last 90 days. 9.59% of the stock is currently owned by company insiders.

Institutional Trading of Tidewater

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its position in Tidewater by 71.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 39,145 shares of the oil and gas company's stock worth $2,823,000 after acquiring an additional 16,338 shares in the last quarter. FMR LLC grew its holdings in Tidewater by 1,294.4% in the 3rd quarter. FMR LLC now owns 1,064,896 shares of the oil and gas company's stock valued at $75,682,000 after buying an additional 988,528 shares during the period. Must Asset Management Inc. acquired a new position in shares of Tidewater in the 3rd quarter valued at about $3,588,000. Assenagon Asset Management S.A. lifted its stake in shares of Tidewater by 254.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 136,798 shares of the oil and gas company's stock valued at $9,722,000 after purchasing an additional 98,173 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Tidewater in the 3rd quarter valued at about $6,530,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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.