Tidewater Inc. (NYSE:TDW) Given Average Recommendation of “Buy” by Brokerages

Shares of Tidewater Inc. (NYSE:TDW) have received an average rating of “Buy” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. Four 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 brokerages that have issued a report on the stock in the last year is $93.00.

Several equities research analysts have issued reports on the stock. Johnson Rice assumed coverage on shares of Tidewater in a report on Friday, February 9th. They issued a “buy” rating and a $88.00 price target on the stock. Evercore ISI upped their target price on shares of Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Pickering Energy Partners initiated coverage on shares of Tidewater in a report on Tuesday, January 30th. They issued an “outperform” rating on the stock. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a report on Monday, March 4th. Finally, BTIG Research upped their target price on shares of Tidewater from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th.

Insider Activity

In other news, CFO Samuel R. Rubio sold 19,641 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total value of $1,597,991.76. Following the transaction, the chief financial officer now owns 98,036 shares of the company’s stock, valued at approximately $7,976,208.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Samuel R. Rubio sold 19,641 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total value of $1,597,991.76. Following the transaction, the chief financial officer now owns 98,036 shares of the company’s stock, valued at approximately $7,976,208.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel A. Hudson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total transaction of $656,000.00. Following the completion of the transaction, the executive vice president now directly owns 104,312 shares in the company, valued at approximately $8,553,584. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,462 shares of company stock valued at $3,716,739. 9.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its stake in Tidewater by 71.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 39,145 shares of the oil and gas company’s stock worth $2,823,000 after acquiring an additional 16,338 shares during the last quarter. Cerity Partners LLC bought a new position in Tidewater during the 4th quarter worth approximately $25,322,000. FMR LLC boosted its stake in Tidewater by 1,294.4% during 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 during the last quarter. Must Asset Management Inc. bought a new position in Tidewater during the 3rd quarter worth approximately $3,588,000. Finally, Assenagon Asset Management S.A. boosted its stake in Tidewater by 254.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 136,798 shares of the oil and gas company’s stock worth $9,722,000 after acquiring an additional 98,173 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Tidewater Trading Down 1.5 %

Shares of TDW stock opened at $88.74 on Friday. Tidewater has a 1 year low of $39.41 and a 1 year high of $101.10. The firm’s fifty day simple moving average is $84.01 and its 200 day simple moving average is $72.18. The firm has a market capitalization of $4.64 billion, a P/E ratio of 48.49 and a beta of 1.20. The company has a current ratio of 1.80, a quick ratio of 1.70 and a debt-to-equity ratio of 0.61.

Tidewater (NYSE:TDW) last announced its earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). Tidewater had a return on equity of 13.37% and a net margin of 9.62%. The company had revenue of $302.66 million for the quarter, compared to the consensus estimate of $309.46 million. During the same period last year, the firm posted $0.30 EPS. The company’s revenue was up 62.1% compared to the same quarter last year. As a group, sell-side analysts predict that Tidewater will post 4.94 EPS for the current year.

Tidewater announced that its Board of Directors has approved a share repurchase program on Thursday, February 29th that authorizes the company to buyback $48.60 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 1.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership 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.