Tidewater Inc. (NYSE:TDW) Receives $92.50 Average Price Target from Analysts

Shares of Tidewater Inc. (NYSE:TDW) have earned an average rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat Ratings reports. Two 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 brokers that have issued ratings on the stock in the last year is $92.50.

Several research analysts recently weighed in on TDW shares. 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. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and lowered their price target for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Finally, Pickering Energy Partners downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th.

Tidewater Stock Down 2.0 %

Shares of Tidewater stock opened at $42.04 on Friday. The business has a fifty day simple moving average of $49.91 and a 200 day simple moving average of $56.40. The stock has a market cap of $2.16 billion, a PE ratio of 12.36 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 12 month low of $38.65 and a 12 month high of $111.42.

Insiders Place Their Bets

In other Tidewater news, Director Robert Robotti purchased 25,000 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the purchase, the director now owns 2,208,670 shares of the company’s stock, 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 this hyperlink. Insiders own 8.33% of the company’s stock.

Hedge Funds Weigh In On Tidewater

Several hedge funds have recently modified their holdings of the stock. CSS LLC IL acquired a new position in Tidewater during the fourth quarter worth $547,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tidewater by 8.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,902 shares of the oil and gas company’s stock worth $2,347,000 after purchasing an additional 3,325 shares during the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Tidewater by 110.7% in the 4th quarter. Voloridge Investment Management LLC now owns 340,103 shares of the oil and gas company’s stock valued at $18,607,000 after purchasing an additional 178,650 shares during the period. Squarepoint Ops LLC lifted its stake in Tidewater by 89.4% in the 4th quarter. Squarepoint Ops LLC now owns 208,744 shares of the oil and gas company’s stock valued at $11,420,000 after purchasing an additional 98,522 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its holdings in Tidewater by 15.2% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 531,981 shares of the oil and gas company’s stock worth $29,105,000 after purchasing an additional 70,194 shares during the period. Institutional investors own 95.13% of the company’s stock.

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.