Tidewater (NYSE:TDW) Rating Lowered to "Neutral" at BTIG Research

Tidewater (NYSE:TDW - Get Free Report) was downgraded by BTIG Research from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Monday, MarketBeat.com reports.

Separately, Raymond James Financial cut their price target on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $69.33.

Tidewater Stock Down 4.3%

Tidewater stock traded down $2.25 during mid-day trading on Monday, reaching $50.36. 285,831 shares of the company were exchanged, compared to its average volume of 1,054,287. The business has a fifty day moving average of $44.44 and a 200 day moving average of $45.56. 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 cap of $2.49 billion, a P/E ratio of 15.12 and a beta of 1.08. Tidewater has a 12-month low of $31.17 and a 12-month high of $108.44.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.24. Tidewater had a return on equity of 15.97% and a net margin of 12.98%. Tidewater's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 EPS. Research analysts anticipate that Tidewater will post 3.25 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Daniel A. Hudson sold 5,000 shares of Tidewater stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $50.02, for a total value of $250,100.00. Following the completion of the transaction, the executive vice president 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Robotti purchased 15,000 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was acquired at an average price of $42.05 per share, with a total value of $630,750.00. Following the purchase, the director owned 2,234,957 shares in the company, valued at $93,979,941.85. This represents a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 25,560 shares of company stock valued at $1,074,858. 8.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tidewater

Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Tidewater by 2,321.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company's stock worth $29,000 after buying an additional 650 shares during the last quarter. Bogart Wealth LLC acquired a new stake in Tidewater in the 1st quarter worth about $30,000. AlphaQuest LLC boosted its holdings in Tidewater by 177.4% in the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock worth $44,000 after buying an additional 511 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Tidewater in the 1st quarter worth about $40,000. Finally, Headlands Technologies LLC acquired a new stake in Tidewater in the 4th quarter worth about $53,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

About Tidewater

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.