Analysts Set Tidewater Inc. (NYSE:TDW) PT at $92.50

Shares of Tidewater Inc. (NYSE:TDW) have been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $92.50.

Several research analysts have commented on TDW shares. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and lowered their target price for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Pickering Energy Partners cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. DNB Markets began coverage on Tidewater in a report on Friday, November 29th. They set a “buy” rating and a $70.00 price target on the stock. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $131.00 to $102.00 in a report on Monday, November 11th. Finally, StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th.

Tidewater Stock Performance

Shares of Tidewater stock opened at $47.84 on Monday. Tidewater has a 52-week low of $46.50 and a 52-week high of $111.42. The firm has a 50-day moving average of $53.75 and a 200-day moving average of $61.94. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The stock has a market cap of $2.50 billion, a PE ratio of 14.07 and a beta of 1.04.

Insiders Place Their Bets

In other news, CEO Quintin Kneen acquired 41,615 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the acquisition, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. This represents a 30.91 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tidewater

A number of large investors have recently modified their holdings of the company. Pacer Advisors Inc. increased its stake in shares of Tidewater by 42,719.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock valued at $76,277,000 after buying an additional 1,390,951 shares during the period. Van ECK Associates Corp bought a new stake in Tidewater in the third quarter worth $51,089,000. Norges Bank bought a new position in shares of Tidewater during the fourth quarter valued at $32,388,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Tidewater by 20.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock valued at $126,180,000 after purchasing an additional 390,814 shares in the last quarter. Finally, Cerity Partners LLC increased its position in Tidewater by 173.4% during the third quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock valued at $43,666,000 after acquiring an additional 385,779 shares during the last quarter. 95.13% of the stock is 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.