Tidewater Inc. (NYSE:TDW) Receives $67.50 Average Price Target from Analysts

Shares of Tidewater Inc. (NYSE:TDW) have earned a consensus rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has 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 $67.50.

Several research firms have commented on TDW. Raymond James Financial restated an “outperform” rating on shares of Tidewater in a research note on Monday. Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Evercore reduced their target price on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th.

Insider Buying and Selling at Tidewater

In related news, EVP Daniel A. Hudson sold 15,000 shares of Tidewater stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $77.50, for a total value of $1,162,500.00. Following the sale, the executive vice president owned 50,986 shares of the company’s stock, valued at approximately $3,951,415. The trade was a 22.73% decrease 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. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Tidewater

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. raised its stake in Tidewater by 6.2% in the fourth quarter. Invesco Ltd. now owns 246,302 shares of the oil and gas company’s stock valued at $12,441,000 after buying an additional 14,413 shares during the period. Empowered Funds LLC acquired a new position in shares of Tidewater during the 4th quarter worth approximately $2,906,000. XTX Topco Ltd bought a new stake in Tidewater in the 4th quarter valued at $2,424,000. SummitTX Capital L.P. acquired a new stake in Tidewater during the 4th quarter valued at $11,403,000. Finally, Tudor Investment Corp ET AL boosted its position in Tidewater by 342.3% during the fourth quarter. Tudor Investment Corp ET AL now owns 92,438 shares of the oil and gas company’s stock worth $4,669,000 after purchasing an additional 71,538 shares during the period. Institutional investors own 95.13% of the company’s stock.

Tidewater Trading Down 1.0%

TDW opened at $77.73 on Tuesday. The stock has a market capitalization of $3.85 billion, a P/E ratio of 26.17 and a beta of 0.65. The company has a current ratio of 2.89, a quick ratio of 2.79 and a debt-to-equity ratio of 0.57. Tidewater has a 12 month low of $31.17 and a 12 month high of $82.00. The firm’s fifty day simple moving average is $61.37 and its 200 day simple moving average is $57.13.

Tidewater Company Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.