Tidewater Inc. (NYSE:TDW) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analyst consensus: "Hold." Eight analysts cover Tidewater with an average 12‑month price target of $91.00 (six hold, two buy), while some firms like Raymond James have higher targets (e.g., $117).
• Notable insider selling. Company insiders sold 52,656 shares valued at about $4.08M over the last 90 days (including EVP Daniel Hudson and EVP Samuel Rubio), and insiders currently own 6.60% of the stock.
• Big quarterly earnings beat. Tidewater reported Q EPS of $4.41 vs. $0.77 expected and revenue of $336.8M (vs. $329.4M consensus), posting a 24.7% net margin and 12.3% ROE.

Shares of Tidewater Inc. (NYSE:TDW - Get Free Report) have earned an average rating of "Hold" from the eight analysts that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $91.00.

TDW has been the subject of several research reports. Dawson James reiterated an "outperform" rating on shares of Tidewater in a research note on Tuesday, March 3rd. Zacks Research upgraded shares of Tidewater from a "strong sell" rating to a "hold" rating in a report on Monday, January 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tidewater in a research note on Monday, December 29th. Finally, Raymond James Financial set a $117.00 target price on shares of Tidewater in a report on Tuesday, March 3rd.

Insider Activity

In related news, EVP Daniel A. Hudson sold 15,000 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $77.50, for a total value of $1,162,500.00. Following the completion of the transaction, the executive vice president directly owned 50,986 shares in the company, valued at $3,951,415. The trade was a 22.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samuel R. Rubio sold 22,461 shares of the business's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the transaction, the executive vice president owned 60,066 shares of the company's stock, valued at $4,808,283.30. This represents a 27.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 52,656 shares of company stock valued at $4,079,112 over the last ninety days. Corporate insiders own 6.60% of the company's stock.

Institutional Investors Weigh In On Tidewater

A number of hedge funds have recently added to or reduced their stakes in the stock. Robotti Robert grew its holdings in shares of Tidewater by 3.3% in the second quarter. Robotti Robert now owns 2,951,533 shares of the oil and gas company's stock worth $136,154,000 after acquiring an additional 94,902 shares during the period. State Street Corp boosted its position in Tidewater by 4.7% in the fourth quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company's stock worth $96,064,000 after purchasing an additional 85,697 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Tidewater by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,752,685 shares of the oil and gas company's stock worth $88,529,000 after purchasing an additional 215,145 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Tidewater by 104.3% during the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company's stock valued at $57,730,000 after purchasing an additional 583,607 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Tidewater by 74.2% during the 3rd quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company's stock valued at $51,698,000 after purchasing an additional 412,911 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Trading Down 2.6%

NYSE TDW opened at $72.35 on Friday. The company has a quick ratio of 2.78, a current ratio of 2.90 and a debt-to-equity ratio of 0.48. Tidewater has a twelve month low of $31.17 and a twelve month high of $88.99. The firm has a market capitalization of $3.59 billion, a PE ratio of 10.83 and a beta of 0.57. The stock's 50 day moving average is $69.74 and its 200 day moving average is $59.35.

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