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

Tidewater Inc. (NYSE:TDW) has been assigned an average rating of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $92.50.

A number of brokerages have weighed in on TDW. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Finally, DNB Markets started coverage on shares of Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 price objective on the stock.

Tidewater Trading Up 1.6 %

Shares of TDW stock opened at $43.00 on Friday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 12.65 and a beta of 1.06. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater has a fifty-two week low of $38.65 and a fifty-two week high of $111.42. The firm’s 50 day moving average price is $50.18 and its two-hundred day moving average price is $57.05.

Insider Activity

In related news, Director Robert Robotti purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the purchase, the director now owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. This represents a 1.14 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.33% of the company’s stock.

Institutional Trading of Tidewater

A number of hedge funds and other institutional investors have recently made changes to their positions in TDW. Pacer Advisors Inc. increased its stake in shares of Tidewater by 42,719.6% in the fourth quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock worth $76,277,000 after buying an additional 1,390,951 shares during the last quarter. Norges Bank bought a new stake in shares of Tidewater in the fourth quarter worth $32,388,000. Price T Rowe Associates Inc. MD increased its stake in shares of Tidewater by 20.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock worth $126,180,000 after buying an additional 390,814 shares during the last quarter. Cerity Partners LLC increased its stake in shares of 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 buying an additional 385,779 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Tidewater by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company’s stock worth $84,888,000 after buying an additional 286,097 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

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.