Tidewater Inc. (NYSE:TDW) Given Average Rating of “Hold” by Analysts

Shares of Tidewater Inc. (NYSE:TDW) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $91.00.

Several brokerages recently weighed in on TDW. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Dawson James reissued an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Finally, Raymond James Financial set a $117.00 price objective on shares of Tidewater in a research report on Tuesday, March 3rd.

Tidewater Stock Performance

Shares of NYSE TDW opened at $72.35 on Friday. Tidewater has a 12-month low of $31.17 and a 12-month high of $88.99. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 10.83 and a beta of 0.57. The company has a current ratio of 2.90, a quick ratio of 2.78 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $69.74 and a 200 day moving average of $59.35.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $3.64. The business had revenue of $336.80 million during the quarter, compared to analysts’ expectations of $329.39 million. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 earnings per share. On average, research analysts anticipate that Tidewater will post 3.25 earnings per share for the current year.

Insider Buying and Selling at Tidewater

In related news, EVP Daniel A. Hudson sold 5,195 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.56, for a total transaction of $418,509.20. Following the sale, the executive vice president owned 45,971 shares of the company’s stock, valued at $3,703,423.76. This trade represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samuel R. Rubio sold 22,461 shares of Tidewater stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the transaction, the executive vice president owned 60,066 shares in the company, valued at $4,808,283.30. This trade represents a 27.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 52,656 shares of company stock worth $4,079,112 in the last ninety days. Insiders own 6.60% of the company’s stock.

Institutional Trading of Tidewater

A number of institutional investors have recently modified their holdings of the company. Federated Hermes Inc. purchased a new position in shares of Tidewater in the 2nd quarter worth approximately $28,199,000. Cerity Partners LLC boosted its stake in 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 acquiring an additional 583,607 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in Tidewater in the fourth quarter worth $21,922,000. American Century Companies Inc. grew its holdings in Tidewater by 291.8% in the second quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company’s stock worth $25,670,000 after purchasing an additional 414,454 shares during the last quarter. Finally, Boston Partners increased its position in shares of Tidewater by 1,118.5% during the second quarter. Boston Partners now owns 283,676 shares of the oil and gas company’s stock worth $14,089,000 after purchasing an additional 260,395 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

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.