Tidewater Inc. (NYSE:TDW) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Tidewater Inc. (NYSE:TDW) have been assigned an average recommendation of “Buy” from the five research firms that are 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 12-month target price among brokers that have issued ratings on the stock in the last year is $93.00.

A number of brokerages have commented on TDW. Pickering Energy Partners began coverage on Tidewater in a research report on Tuesday, January 30th. They set an “outperform” rating for the company. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Evercore ISI lifted their price target on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. BTIG Research lifted their price target on Tidewater from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Johnson Rice assumed coverage on Tidewater in a research report on Friday, February 9th. They set a “buy” rating and a $88.00 price target for the company.

Insider Activity at Tidewater

In related news, COO David E. Darling sold 17,821 shares of Tidewater stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total value of $1,462,747.68. Following the completion of the transaction, the chief operating officer now owns 85,959 shares in the company, valued at approximately $7,055,514.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO David E. Darling sold 17,821 shares of Tidewater stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total value of $1,462,747.68. Following the completion of the transaction, the chief operating officer now owns 85,959 shares in the company, valued at approximately $7,055,514.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Daniel A. Hudson sold 8,000 shares of Tidewater stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total value of $656,000.00. Following the completion of the transaction, the executive vice president now owns 104,312 shares of the company’s stock, valued at approximately $8,553,584. The disclosure for this sale can be found here. Insiders sold a total of 45,462 shares of company stock worth $3,716,739 in the last 90 days. Corporate insiders own 9.59% of the company’s stock.

Hedge Funds Weigh In On Tidewater

A number of hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Tidewater by 0.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,099,470 shares of the oil and gas company’s stock valued at $298,466,000 after acquiring an additional 20,599 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Tidewater by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,829,340 shares of the oil and gas company’s stock valued at $276,134,000 after acquiring an additional 30,740 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Tidewater by 8.4% during the third quarter. BlackRock Inc. now owns 2,967,847 shares of the oil and gas company’s stock valued at $64,403,000 after acquiring an additional 230,701 shares during the last quarter. Boston Partners raised its holdings in shares of Tidewater by 32,536.3% during the fourth quarter. Boston Partners now owns 2,080,236 shares of the oil and gas company’s stock valued at $149,928,000 after acquiring an additional 2,073,862 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Tidewater by 16.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,823,664 shares of the oil and gas company’s stock valued at $80,389,000 after acquiring an additional 263,179 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Up 0.8 %

Tidewater stock opened at $89.51 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.80 and a quick ratio of 1.70. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 48.91 and a beta of 1.20. Tidewater has a 1-year low of $39.41 and a 1-year high of $101.10. The business has a fifty day moving average price of $84.45 and a 200-day moving average price of $72.36.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Friday, March 1st. The oil and gas company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). The business had revenue of $302.66 million during the quarter, compared to analyst estimates of $309.46 million. Tidewater had a return on equity of 13.37% and a net margin of 9.62%. The firm’s revenue for the quarter was up 62.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. Equities research analysts forecast that Tidewater will post 4.94 EPS for the current fiscal year.

Tidewater declared that its board has authorized a share buyback plan on Thursday, February 29th that authorizes the company to buyback $48.60 million in shares. This buyback authorization authorizes the oil and gas company to buy up to 1.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.