Tidewater Inc. (NYSE:TDW) Given Average Rating of "Hold" by Brokerages

Key Points

• Analysts give Tidewater a consensus "Hold" rating from nine brokerages (seven hold, two buy) with an average 1-year price target of $87.33.
• Company insiders have been net sellers recently — 52,656 shares were sold in the last 90 days (about $4.08M), including large sales by EVPs Samuel Rubio and Daniel Hudson, leaving insiders with 6.6% ownership.
• Tidewater posted a strong quarterly beat with EPS $4.41 vs. $0.77 expected and revenue of $336.8M (vs. $329.4M est.), while the stock trades around $84.31 with a market cap of $4.18B and a P/E of 12.62.

Shares of Tidewater Inc. (NYSE:TDW - Get Free Report) have received a consensus recommendation of "Hold" from the nine brokerages that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $87.3333.

A number of equities research analysts have recently weighed in on TDW shares. Dawson James restated an "outperform" rating on shares of Tidewater in a research report on Tuesday, March 3rd. Zacks Research upgraded Tidewater from a "strong sell" rating to a "hold" rating in a research report on Monday, January 12th. Raymond James Financial set a $117.00 target price on Tidewater in a research report on Tuesday, March 3rd. Barclays started coverage on Tidewater in a research report on Wednesday, April 1st. They set an "equal weight" rating and a $80.00 target price for the company. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Tidewater in a research report on Monday, December 29th.

Insiders Place Their Bets

In related news, EVP Samuel R. Rubio sold 22,461 shares of Tidewater stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the completion of the sale, the executive vice president directly owned 60,066 shares of the company's stock, valued at $4,808,283.30. The trade was a 27.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel A. Hudson sold 5,195 shares of Tidewater stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.56, for a total value of $418,509.20. Following the sale, the executive vice president directly owned 45,971 shares of the company's stock, valued at approximately $3,703,423.76. This trade represents a 10.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 52,656 shares of company stock valued at $4,079,112. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tidewater

Institutional investors have recently made changes to their positions in the stock. VELA Investment Management LLC acquired a new stake in shares of Tidewater during the third quarter worth $1,546,000. Stratos Wealth Advisors LLC acquired a new stake in shares of Tidewater during the third quarter worth $2,010,000. Fulcrum Asset Management LLP grew its stake in shares of Tidewater by 226.1% during the third quarter. Fulcrum Asset Management LLP now owns 33,428 shares of the oil and gas company's stock worth $1,783,000 after purchasing an additional 23,177 shares during the period. SummerHaven Investment Management LLC acquired a new stake in shares of Tidewater during the third quarter worth $855,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Tidewater by 286.0% during the third quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company's stock worth $9,986,000 after purchasing an additional 138,739 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Tidewater Trading Down 4.0%

Shares of TDW opened at $84.31 on Wednesday. The stock has a fifty day moving average price of $77.61 and a two-hundred day moving average price of $62.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.78 and a current ratio of 2.90. Tidewater has a 52-week low of $32.15 and a 52-week high of $89.00. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 12.62 and a beta of 0.56.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $3.64. The firm had revenue of $336.80 million during the quarter, compared to the consensus estimate of $329.39 million. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The business's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. Analysts predict that Tidewater will post 3.25 EPS for the current fiscal year.

Tidewater Company Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company's fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.

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