Tidewater Inc. (NYSE:TDW) Given Average Rating of “Moderate Buy” by Analysts

Tidewater Inc. (NYSE:TDW) has been given a consensus rating of “Moderate Buy” by the six analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $91.60.

A number of equities analysts recently weighed in on the company. Evercore ISI cut Tidewater from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $131.00 to $102.00 in a research report on Monday, November 11th. DNB Markets started coverage on shares of Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 price objective on the stock. Finally, Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th.

Insider Activity at Tidewater

In other news, CEO Quintin Kneen acquired 41,615 shares of Tidewater stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the transaction, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of Tidewater by 42,719.6% in the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock valued at $76,277,000 after buying an additional 1,390,951 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Tidewater in the third quarter valued at approximately $51,089,000. Cerity Partners LLC grew its position in Tidewater by 173.4% in the third quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock worth $43,666,000 after acquiring an additional 385,779 shares in the last quarter. Villere ST Denis J & Co. LLC acquired a new position in shares of Tidewater during the 3rd quarter worth $25,871,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Tidewater by 207.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124,391 shares of the oil and gas company’s stock valued at $8,930,000 after purchasing an additional 83,975 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Tidewater Stock Up 0.8 %

TDW stock opened at $53.69 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The firm has a market cap of $2.81 billion, a PE ratio of 15.79 and a beta of 1.06. Tidewater has a 12 month low of $46.50 and a 12 month high of $111.42. The firm has a 50 day simple moving average of $52.45 and a 200 day simple moving average of $67.98.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.08. The business had revenue of $340.36 million during the quarter, compared to analyst estimates of $339.65 million. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. During the same period last year, the company posted $0.77 EPS. Equities research analysts forecast that Tidewater will post 3.25 earnings per share for the current fiscal year.

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.