Tidewater Inc. (NYSE:TDW) Receives $95.80 Consensus Target Price from Brokerages

Shares of Tidewater Inc. (NYSE:TDW) have been assigned an average rating of “Buy” from the six research firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $95.80.

A number of research firms have recently commented on TDW. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $131.00 to $102.00 in a report on Monday, November 11th. Finally, DNB Markets initiated coverage on Tidewater in a report on Friday, November 29th. They set a “buy” rating and a $70.00 price objective for the company.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TDW. Tidal Investments LLC boosted its position in shares of Tidewater by 8.1% in the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock worth $257,000 after buying an additional 267 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in Tidewater by 30.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company’s stock worth $1,220,000 after acquiring an additional 3,969 shares during the period. Neo Ivy Capital Management grew its position in Tidewater by 22.5% in the third quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company’s stock valued at $994,000 after acquiring an additional 2,544 shares in the last quarter. Geode Capital Management LLC grew its position in Tidewater by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock valued at $78,473,000 after acquiring an additional 5,713 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Tidewater by 354.2% during the third quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock valued at $5,661,000 after purchasing an additional 61,487 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Stock Performance

Tidewater stock opened at $55.79 on Friday. The stock has a fifty day moving average price of $52.67 and a 200 day moving average price of $71.99. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. Tidewater has a 52 week low of $46.50 and a 52 week high of $111.42. The firm has a market capitalization of $2.92 billion, a P/E ratio of 16.41 and a beta of 1.06.

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.