Tidewater Inc. (NYSE:TDW) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Tidewater Inc. (NYSE:TDW) has received an average recommendation of "Moderate Buy" from six brokerages, with a target price of $69.00.
• Insider trading activity included Director Robert Robotti purchasing 15,000 shares at $42.05 each, while EVP Daniel A. Hudson sold 10,000 shares at $57.56 each, indicating varying sentiment among executives.
• The company has also announced a $500 million stock buyback program, allowing repurchase of up to 21.3% of its shares, signaling confidence in its stock valuation.

Shares of Tidewater Inc. (NYSE:TDW - Get Free Report) have been given an average rating of "Moderate Buy" by the six analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $69.00.

TDW has been the subject of several analyst reports. Evercore ISI boosted their price target on shares of Tidewater from $60.00 to $67.00 and gave the company an "in-line" rating in a report on Wednesday, August 6th. Zacks Research raised shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, BTIG Research lowered Tidewater from a "buy" rating to a "neutral" rating in a report on Monday, July 14th.

Tidewater Stock Performance

Shares of TDW traded up $0.53 during midday trading on Tuesday, hitting $57.73. 812,858 shares of the stock traded hands, compared to its average volume of 692,967. Tidewater has a 1-year low of $31.17 and a 1-year high of $79.43. The firm has a market capitalization of $2.86 billion, a PE ratio of 14.95 and a beta of 1.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11. The business's 50 day moving average price is $53.82 and its two-hundred day moving average price is $45.63.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.95. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The company had revenue of $341.43 million during the quarter, compared to the consensus estimate of $317.28 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. Tidewater has set its FY 2025 guidance at EPS. Equities research analysts predict that Tidewater will post 3.25 EPS for the current fiscal year.

Tidewater declared that its Board of Directors has approved a share repurchase plan on Monday, August 4th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 21.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Insider Activity at Tidewater

In other news, EVP Daniel A. Hudson sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $57.56, for a total transaction of $575,600.00. Following the transaction, the executive vice president directly owned 75,986 shares of the company's stock, valued at approximately $4,373,754.16. This trade represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bogart Wealth LLC increased its holdings in shares of Tidewater by 28.6% during the second quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company's stock valued at $42,000 after purchasing an additional 200 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Tidewater by 4.5% in the second quarter. Ameritas Investment Partners Inc. now owns 5,165 shares of the oil and gas company's stock valued at $238,000 after buying an additional 224 shares during the period. Covestor Ltd lifted its holdings in shares of Tidewater by 14.1% in the first quarter. Covestor Ltd now owns 2,075 shares of the oil and gas company's stock valued at $88,000 after buying an additional 256 shares during the period. Lido Advisors LLC lifted its holdings in shares of Tidewater by 5.6% in the second quarter. Lido Advisors LLC now owns 5,152 shares of the oil and gas company's stock valued at $238,000 after buying an additional 275 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Tidewater by 33.3% in the first quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock valued at $48,000 after buying an additional 282 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

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.