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

Shares of Tidewater Inc. (NYSE:TDW) have been given a consensus rating of “Buy” by the five analysts that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $98.00.

Several equities research analysts have recently commented on TDW shares. Evercore ISI boosted their target price on shares of Tidewater from $87.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a report on Monday, March 4th. Finally, BTIG Research lifted their price target on Tidewater from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, May 10th.

Insiders Place Their Bets

In other Tidewater news, Director Darron M. Anderson sold 1,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $103.89, for a total transaction of $103,890.00. Following the completion of the sale, the director now directly owns 40,447 shares of the company’s stock, valued at approximately $4,202,038.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Quintin Kneen sold 150,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $109.01, for a total transaction of $16,351,500.00. Following the completion of the transaction, the chief executive officer now directly owns 501,718 shares in the company, valued at approximately $54,692,279.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Darron M. Anderson sold 1,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $103.89, for a total value of $103,890.00. Following the transaction, the director now owns 40,447 shares of the company’s stock, valued at $4,202,038.83. The disclosure for this sale can be found here. In the last three months, insiders sold 733,926 shares of company stock valued at $78,328,615. 8.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tidewater

Several institutional investors have recently modified their holdings of TDW. Boston Partners grew its position in shares of Tidewater by 32,536.3% during the 4th quarter. Boston Partners now owns 2,080,236 shares of the oil and gas company’s stock worth $149,928,000 after buying an additional 2,073,862 shares during the period. Vanguard Group Inc. grew its position in shares of Tidewater by 37.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,798,600 shares of the oil and gas company’s stock valued at $269,967,000 after purchasing an additional 1,043,804 shares during the period. FMR LLC grew its position in shares of Tidewater by 1,294.4% in the 3rd quarter. FMR LLC now owns 1,064,896 shares of the oil and gas company’s stock valued at $75,682,000 after purchasing an additional 988,528 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in shares of Tidewater in the 1st quarter valued at approximately $34,898,000. Finally, Cerity Partners LLC acquired a new position in shares of Tidewater in the 4th quarter valued at approximately $25,322,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Stock Up 1.1 %

Shares of NYSE:TDW opened at $94.25 on Friday. Tidewater has a 52 week low of $46.41 and a 52 week high of $111.42. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.81. The company’s fifty day moving average is $99.56 and its 200-day moving average is $84.57. The company has a market capitalization of $4.97 billion, a PE ratio of 37.55 and a beta of 1.22.

Tidewater (NYSE:TDW) last issued its earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.49 by $0.40. Tidewater had a net margin of 11.73% and a return on equity of 16.24%. The company had revenue of $321.20 million for the quarter, compared to the consensus estimate of $312.05 million. During the same quarter in the previous year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 66.3% compared to the same quarter last year. Equities research analysts predict that Tidewater will post 4.68 earnings per share for the current fiscal year.

Tidewater announced that its Board of Directors has authorized a stock buyback program on Thursday, February 29th that permits the company to buyback $48.60 million in shares. This buyback authorization permits the oil and gas company to repurchase up to 1.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.