Tidewater Inc. (NYSE:TDW) Receives Consensus Rating of “Buy” from Analysts

Shares of Tidewater Inc. (NYSE:TDW) have earned a consensus recommendation of “Buy” from the five analysts that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $98.00.

Separately, BTIG Research upped their price objective on shares of Tidewater from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, May 10th.

Insider Buying and Selling at Tidewater

In other news, EVP Daniel A. Hudson sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $109.00, for a total transaction of $2,180,000.00. Following the completion of the transaction, the executive vice president now directly owns 74,542 shares of the company’s stock, valued at approximately $8,125,078. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tidewater news, CEO Quintin Kneen sold 150,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $109.01, for a total value of $16,351,500.00. Following the sale, the chief executive officer now directly owns 501,718 shares in the company, valued at $54,692,279.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel A. Hudson sold 20,000 shares of Tidewater stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $109.00, for a total value of $2,180,000.00. Following the transaction, the executive vice president now directly owns 74,542 shares of the company’s stock, valued at $8,125,078. The disclosure for this sale can be found here. Insiders have sold 733,926 shares of company stock valued at $78,328,615 in the last 90 days. 8.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tidewater

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its position in Tidewater by 3.4% in the third quarter. Rhumbline Advisers now owns 69,071 shares of the oil and gas company’s stock valued at $4,909,000 after buying an additional 2,267 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Tidewater in the third quarter valued at approximately $454,000. FMR LLC boosted its holdings 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 worth $75,682,000 after acquiring an additional 988,528 shares in the last quarter. Invesco Ltd. grew its position in Tidewater by 29.6% during the 3rd quarter. Invesco Ltd. now owns 247,901 shares of the oil and gas company’s stock worth $17,618,000 after acquiring an additional 56,608 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in Tidewater by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 82,459 shares of the oil and gas company’s stock valued at $5,860,000 after purchasing an additional 779 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Up 3.2 %

Shares of TDW stock opened at $94.66 on Friday. Tidewater has a 12 month low of $52.15 and a 12 month high of $111.42. The company has a quick ratio of 1.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a market cap of $4.99 billion, a PE ratio of 37.71 and a beta of 1.20. The stock has a 50 day moving average of $99.73 and a 200-day moving average of $85.62.

Tidewater (NYSE:TDW) last released 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 firm had revenue of $321.20 million during the quarter, compared to analysts’ expectations of $312.05 million. During the same period in the prior year, the company earned $0.23 EPS. The business’s quarterly revenue was up 66.3% compared to the same quarter last year. On average, equities analysts predict that Tidewater will post 4.68 EPS for the current year.

Tidewater announced that its board has authorized a share buyback program on Thursday, May 2nd that allows the company to buyback $18.10 million in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 0.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.