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

Tidewater Inc. (NYSE:TDW) has been assigned a consensus recommendation of “Buy” from the five ratings firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $93.00.

Several brokerages have recently weighed in on TDW. Johnson Rice started coverage on shares of Tidewater in a report on Friday, February 9th. They issued a “buy” rating and a $88.00 target price on the stock. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Evercore ISI upped their price target on shares of Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Pickering Energy Partners initiated coverage on shares of Tidewater in a research report on Tuesday, January 30th. They issued an “outperform” rating for the company. Finally, BTIG Research upped their target price on shares of Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th.

Insider Buying and Selling

In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the transaction, the chief financial officer now owns 98,036 shares of the company’s stock, valued at approximately $7,976,208.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO David E. Darling sold 17,821 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $82.08, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Samuel R. Rubio sold 19,641 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the completion of the transaction, the chief financial officer now owns 98,036 shares of the company’s stock, valued at $7,976,208.96. The disclosure for this sale can be found here. Insiders have sold a total of 45,462 shares of company stock valued at $3,716,739 in the last quarter. Company insiders own 9.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TDW. PNC Financial Services Group Inc. boosted its holdings in shares of Tidewater by 71.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 156 shares during the period. Parkside Financial Bank & Trust bought a new position in Tidewater during the fourth quarter worth $33,000. Tower Research Capital LLC TRC increased its position in Tidewater by 36.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,021 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 270 shares during the period. Ensign Peak Advisors Inc bought a new position in Tidewater during the third quarter worth $51,000. Finally, FNY Investment Advisers LLC bought a new position in Tidewater during the third quarter worth $71,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Price Performance

Tidewater stock opened at $88.74 on Friday. The company has a fifty day simple moving average of $84.01 and a 200-day simple moving average of $72.18. Tidewater has a 12-month low of $39.41 and a 12-month high of $101.10. The company has a current ratio of 1.80, a quick ratio of 1.70 and a debt-to-equity ratio of 0.61. The stock has a market cap of $4.64 billion, a P/E ratio of 48.49 and a beta of 1.20.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Friday, March 1st. The oil and gas company reported $0.70 EPS 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 net margin of 9.62% and a return on equity of 13.37%. The company’s revenue for the quarter was up 62.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Equities analysts expect that Tidewater will post 4.94 EPS for the current fiscal year.

Tidewater announced that its Board of Directors has authorized a share buyback program on Thursday, February 29th that allows the company to buyback $48.60 million in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 1.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are 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.