Tidewater Inc. (NYSE:TDW) Receives Average Rating of “Buy” from Brokerages

Shares of Tidewater Inc. (NYSE:TDW) have been given an average rating of “Buy” by the five ratings firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $111.25.

TDW has been the topic of a number of recent research reports. Raymond James upped their price target on shares of Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com cut shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th.

Tidewater Stock Performance

Shares of TDW stock opened at $73.34 on Friday. The stock has a market capitalization of $3.85 billion, a P/E ratio of 29.21 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $83.79 and its 200 day moving average is $92.71. Tidewater has a 12 month low of $54.53 and a 12 month high of $111.42.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.22. The company had revenue of $339.20 million for the quarter, compared to analysts’ expectations of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. Tidewater’s revenue was up 57.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. On average, sell-side analysts anticipate that Tidewater will post 4.4 earnings per share for the current year.

Tidewater announced that its board has initiated a stock buyback program on Tuesday, August 6th that permits the company to repurchase $13.90 million in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Tidewater

Institutional investors and hedge funds have recently bought and sold shares of the company. CreativeOne Wealth LLC purchased a new stake in Tidewater in the 1st quarter worth approximately $542,000. Russell Investments Group Ltd. increased its holdings in shares of Tidewater by 17.3% in the 1st quarter. Russell Investments Group Ltd. now owns 86,750 shares of the oil and gas company’s stock worth $7,981,000 after buying an additional 12,799 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Tidewater in the 1st quarter worth $5,658,000. Sei Investments Co. increased its holdings in shares of Tidewater by 106.8% in the 1st quarter. Sei Investments Co. now owns 13,987 shares of the oil and gas company’s stock worth $1,287,000 after buying an additional 7,225 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Tidewater by 244.3% in the 1st quarter. Principal Financial Group Inc. now owns 38,413 shares of the oil and gas company’s stock worth $3,534,000 after buying an additional 27,257 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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.