Analysts Set Tidewater Inc. (NYSE:TDW) Price Target at $98.00

Tidewater Inc. (NYSE:TDW) has been assigned an average rating of “Buy” from the five research firms that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $98.00.

A number of equities analysts have recently weighed in on TDW shares. BTIG Research upped their price objective on Tidewater from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Evercore ISI raised their target price on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Finally, StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a report on Monday, March 4th.

Tidewater Trading Up 1.1 %

NYSE TDW opened at $95.21 on Friday. The company has a quick ratio of 1.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Tidewater has a twelve month low of $48.09 and a twelve month high of $111.42. The firm has a market capitalization of $5.02 billion, a PE ratio of 37.93 and a beta of 1.22. The stock’s 50 day moving average is $99.67 and its 200 day moving average is $85.20.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.40. The business had revenue of $321.20 million during the quarter, compared to analysts’ expectations of $312.05 million. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. The firm’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. Research analysts forecast that Tidewater will post 4.68 earnings per share for the current fiscal year.

Tidewater announced that its board has initiated a share buyback plan on Thursday, May 2nd that authorizes the company to buyback $18.10 million in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 0.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CFO Samuel R. Rubio sold 24,396 shares of Tidewater stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $107.39, for a total transaction of $2,619,886.44. Following the completion of the transaction, the chief financial officer now directly owns 64,527 shares in the company, valued at approximately $6,929,554.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tidewater news, Director Robert Robotti sold 1,494 shares of Tidewater stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $107.53, for a total value of $160,649.82. Following the completion of the sale, the director now directly owns 2,854,100 shares of the company’s stock, valued at approximately $306,901,373. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Samuel R. Rubio sold 24,396 shares of Tidewater stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $107.39, for a total transaction of $2,619,886.44. Following the completion of the sale, the chief financial officer now directly owns 64,527 shares of the company’s stock, valued at $6,929,554.53. The disclosure for this sale can be found here. In the last three months, insiders sold 733,926 shares of company stock worth $78,328,615. Company insiders own 8.33% of the company’s stock.

Institutional Trading of Tidewater

Hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners lifted its holdings in Tidewater by 32,536.3% in the 4th quarter. Boston Partners now owns 2,080,236 shares of the oil and gas company’s stock worth $149,928,000 after buying an additional 2,073,862 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Tidewater by 37.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,798,600 shares of the oil and gas company’s stock worth $269,967,000 after buying an additional 1,043,804 shares in the last quarter. FMR LLC raised its stake 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 valued at $75,682,000 after purchasing an additional 988,528 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in shares of Tidewater in the 1st quarter valued at about $34,898,000. Finally, Cerity Partners LLC acquired a new stake in shares of Tidewater in the 4th quarter valued at about $25,322,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Company Profile

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.