Analysts Set Tidewater Inc. (NYSE:TDW) Price Target at $95.80

Tidewater Inc. (NYSE:TDW) has been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $95.80.

TDW has been the topic of several analyst reports. Raymond James downgraded Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $131.00 to $102.00 in a report on Monday, November 11th. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, DNB Markets initiated coverage on shares of Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 price objective for the company.

Insider Activity at Tidewater

In related news, CEO Quintin Kneen bought 41,615 shares of the business’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the transaction, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 8.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tidewater

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC lifted its stake in shares of Tidewater by 8.1% in the 3rd quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 267 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in Tidewater by 30.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company’s stock valued at $1,220,000 after buying an additional 3,969 shares during the last quarter. Neo Ivy Capital Management raised its position in Tidewater by 22.5% in the third quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company’s stock worth $994,000 after acquiring an additional 2,544 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tidewater by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock worth $78,473,000 after acquiring an additional 5,713 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Tidewater by 354.2% during the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock valued at $5,661,000 after acquiring an additional 61,487 shares during the period. 95.13% of the stock is owned by institutional investors.

Tidewater Price Performance

TDW stock opened at $57.62 on Friday. 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 firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 16.95 and a beta of 1.06. The firm has a 50 day moving average price of $52.83 and a 200-day moving average price of $72.22. Tidewater has a 52-week low of $46.50 and a 52-week high of $111.42.

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.