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

Tidewater Inc. (NYSE:TDW) has been assigned an average rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $92.50.

Several equities analysts have weighed in on TDW shares. Pickering Energy Partners cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Evercore ISI cut Tidewater from an “outperform” rating to an “in-line” rating and lowered their price target for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Finally, DNB Markets initiated coverage on Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective on the stock.

Insider Activity

In other news, Director Robert Robotti bought 1,770 shares of the stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $40.95 per share, with a total value of $72,481.50. Following the acquisition, the director now directly owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. This trade represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.33% of the stock is owned by corporate insiders.

Institutional Trading of Tidewater

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in Tidewater in the 4th quarter valued at approximately $33,000. AlphaQuest LLC raised its position in shares of Tidewater by 177.4% during the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 511 shares during the last quarter. Quarry LP lifted its stake in shares of Tidewater by 187.6% in the third quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock worth $58,000 after acquiring an additional 531 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in Tidewater in the third quarter valued at approximately $65,000. Finally, Headlands Technologies LLC acquired a new stake in Tidewater during the 4th quarter valued at approximately $53,000. 95.13% of the stock is currently owned by institutional investors.

Tidewater Stock Performance

NYSE:TDW opened at $42.04 on Friday. Tidewater has a 1-year low of $38.65 and a 1-year high of $111.42. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The stock has a market cap of $2.16 billion, a P/E ratio of 12.36 and a beta of 1.06. The stock has a 50 day simple moving average of $49.91 and a 200 day simple moving average of $56.40.

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.