Tidewater Inc. (NYSE:TDW) Receives $91.00 Consensus PT from Brokerages

Shares of Tidewater Inc. (NYSE:TDW) have received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $91.00.

A number of equities research analysts have commented on the company. Raymond James Financial set a $117.00 target price on Tidewater in a report on Tuesday, March 3rd. Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Dawson James restated an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th.

Insider Transactions at Tidewater

In other news, EVP Samuel R. Rubio sold 22,461 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the transaction, the executive vice president owned 60,066 shares of the company’s stock, valued at $4,808,283.30. The trade was a 27.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Daniel A. Hudson sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the transaction, the executive vice president directly owned 50,986 shares in the company, valued at $3,951,415. The trade was a 22.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 52,656 shares of company stock worth $4,079,112. 6.60% of the stock is owned by insiders.

Institutional Trading of Tidewater

A number of hedge funds have recently bought and sold shares of TDW. Caitong International Asset Management Co. Ltd raised its holdings in Tidewater by 2,298.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,487 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 1,425 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Tidewater by 6.2% during the fourth quarter. Invesco Ltd. now owns 246,302 shares of the oil and gas company’s stock worth $12,441,000 after purchasing an additional 14,413 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Tidewater in the fourth quarter valued at $2,906,000. XTX Topco Ltd acquired a new position in Tidewater in the fourth quarter valued at $2,424,000. Finally, SummitTX Capital L.P. acquired a new position in Tidewater in the fourth quarter valued at $11,403,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

Shares of TDW opened at $75.60 on Friday. Tidewater has a 12-month low of $31.17 and a 12-month high of $88.99. The stock has a market cap of $3.75 billion, a P/E ratio of 11.32 and a beta of 0.57. The company has a current ratio of 2.90, a quick ratio of 2.78 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $70.10 and a two-hundred day moving average of $59.50.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, beating the consensus estimate of $0.77 by $3.64. Tidewater had a net margin of 24.74% and a return on equity of 12.34%. The business had revenue of $336.80 million for the quarter, compared to analyst estimates of $329.39 million. During the same period in the prior year, the business earned $0.70 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, research analysts predict that Tidewater will post 3.25 EPS for the current fiscal year.

About Tidewater

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.