Shares of Tidewater Inc. (NYSE:TDW - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the four research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $69.33.
A number of brokerages have commented on TDW. BTIG Research restated a "neutral" rating on shares of Tidewater in a research report on Monday. Raymond James Financial dropped their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th.
Get Our Latest Analysis on TDW
Tidewater Stock Down 3.6%
Shares of TDW traded down $1.90 on Monday, reaching $50.71. The stock had a trading volume of 108,479 shares, compared to its average volume of 1,053,617. Tidewater has a 12-month low of $31.17 and a 12-month high of $108.44. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.00 and a current ratio of 2.07. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 15.18 and a beta of 1.08. The company has a 50-day simple moving average of $44.44 and a 200-day simple moving average of $45.56.
Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.24. Tidewater had a return on equity of 15.97% and a net margin of 12.98%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Sell-side analysts predict that Tidewater will post 3.25 EPS for the current year.
Insider Buying and Selling at Tidewater
In related news, EVP Daniel A. Hudson sold 5,000 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $50.02, for a total transaction of $250,100.00. Following the transaction, the executive vice president directly owned 85,986 shares in the company, valued at $4,301,019.72. The trade was a 5.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Robotti bought 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were purchased at an average cost of $42.05 per share, with a total value of $630,750.00. Following the acquisition, the director directly owned 2,234,957 shares of the company's stock, valued at approximately $93,979,941.85. This trade represents a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 25,560 shares of company stock valued at $1,074,858. Corporate insiders own 8.33% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC raised its stake in Tidewater by 336.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company's stock valued at $87,000 after purchasing an additional 1,224 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tidewater by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 490,793 shares of the oil and gas company's stock worth $26,851,000 after purchasing an additional 56,276 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Tidewater during the 4th quarter worth $4,347,000. AlphaQuest LLC grew its holdings in shares of Tidewater by 177.4% during the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock worth $44,000 after purchasing an additional 511 shares during the period. Finally, HighTower Advisors LLC grew its holdings in shares of Tidewater by 16.5% during the 4th quarter. HighTower Advisors LLC now owns 16,743 shares of the oil and gas company's stock worth $916,000 after purchasing an additional 2,366 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.
About Tidewater
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Get Free ReportTidewater 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.
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