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

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

Separately, BTIG Research lifted their target price on shares of Tidewater from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, May 10th.

Tidewater Trading Up 0.6 %

Tidewater stock opened at $95.26 on Friday. Tidewater has a one year low of $52.15 and a one year high of $111.42. The business’s fifty day moving average is $99.82 and its 200 day moving average is $85.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.74. The stock has a market capitalization of $5.03 billion, a PE ratio of 37.95 and a beta of 1.20.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.40. Tidewater had a net margin of 11.73% and a return on equity of 16.24%. The firm had revenue of $321.20 million during the quarter, compared to analyst estimates of $312.05 million. During the same period in the previous year, the business posted $0.23 earnings per share. The business’s revenue for the quarter was up 66.3% on a year-over-year basis. On average, sell-side analysts predict that Tidewater will post 4.68 EPS for the current year.

Tidewater announced that its Board of Directors has approved a share buyback plan on Thursday, May 2nd that allows the company to buyback $18.10 million in shares. This buyback authorization allows the oil and gas company to purchase up to 0.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Darron M. Anderson sold 1,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $103.89, for a total value of $103,890.00. Following the transaction, the director now directly owns 40,447 shares of the company’s stock, valued at approximately $4,202,038.83. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Darron M. Anderson sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $103.89, for a total transaction of $103,890.00. Following the completion of the transaction, the director now directly owns 40,447 shares in the company, valued at approximately $4,202,038.83. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Samuel R. Rubio sold 24,396 shares of the firm’s 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 sale, the chief financial officer now owns 64,527 shares in the company, valued at approximately $6,929,554.53. The disclosure for this sale can be found here. Insiders sold a total of 733,926 shares of company stock valued at $78,328,615 in the last 90 days. Company insiders own 8.33% of the company’s stock.

Institutional Investors Weigh In On Tidewater

A number of institutional investors have recently bought and sold shares of TDW. Raymond James Financial Services Advisors Inc. lifted its position in shares of Tidewater by 71.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 39,145 shares of the oil and gas company’s stock valued at $2,823,000 after acquiring an additional 16,338 shares in the last quarter. Sheets Smith Wealth Management bought a new stake in Tidewater during the 4th quarter valued at approximately $510,000. Anthracite Investment Company Inc. purchased a new position in Tidewater in the 4th quarter worth approximately $3,101,000. CenterBook Partners LP bought a new position in Tidewater in the 4th quarter worth approximately $727,000. Finally, Orchard Capital Management LLC grew its holdings in Tidewater by 23.1% during the 4th quarter. Orchard Capital Management LLC now owns 166,146 shares of the oil and gas company’s stock valued at $11,981,000 after buying an additional 31,193 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.