Tidewater Inc. (NYSE:TDW) Receives Consensus Recommendation of “Hold” from Analysts

Tidewater Inc. (NYSE:TDW) has been given a consensus recommendation of “Hold” by the seven research firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $67.50.

TDW has been the topic of a number of research reports. Raymond James Financial reissued an “outperform” rating on shares of Tidewater in a report on Monday. Evercore lowered their price objective on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a research report on Wednesday, November 12th. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th.

Insider Transactions at Tidewater

In related news, EVP Daniel A. Hudson sold 15,000 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the completion of the transaction, the executive vice president directly owned 50,986 shares in the company, valued at $3,951,415. This represents a 22.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tidewater

Several hedge funds and other institutional investors have recently modified their holdings of TDW. Robotti Robert increased its holdings in shares of Tidewater by 3.3% in the 2nd quarter. Robotti Robert now owns 2,951,533 shares of the oil and gas company’s stock worth $136,154,000 after acquiring an additional 94,902 shares during the period. State Street Corp grew its position in Tidewater by 4.7% in the 4th quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock worth $96,064,000 after purchasing an additional 85,697 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tidewater by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,752,685 shares of the oil and gas company’s stock valued at $88,529,000 after purchasing an additional 215,145 shares during the period. Cerity Partners LLC increased its stake in shares of Tidewater by 104.3% in the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock valued at $57,730,000 after purchasing an additional 583,607 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Tidewater by 74.2% during the third quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock valued at $51,698,000 after buying an additional 412,911 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

TDW stock opened at $78.81 on Tuesday. The stock’s 50 day simple moving average is $59.78 and its 200 day simple moving average is $56.67. Tidewater has a 12-month low of $31.17 and a 12-month high of $82.00. The firm has a market cap of $3.91 billion, a P/E ratio of 26.54 and a beta of 0.64. The company has a current ratio of 2.89, a quick ratio of 2.79 and a debt-to-equity ratio of 0.57.

Tidewater Company Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.