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

Tidewater Inc. (NYSE:TDW) has earned an average rating of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $92.50.

TDW has been the topic of a number of research analyst reports. Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and cut their target price for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. DNB Markets assumed coverage on Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 price objective on the stock. Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. Finally, StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th.

Insider Buying and Selling

In other news, CEO Quintin Kneen bought 41,615 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the purchase, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.33% of the company’s stock.

Hedge Funds Weigh In On Tidewater

Institutional investors and hedge funds have recently modified their holdings of the company. Centiva Capital LP acquired a new position in shares of Tidewater during the third quarter worth $958,000. Hodges Capital Management Inc. boosted its stake in Tidewater by 103.0% in the fourth quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company’s stock valued at $5,288,000 after acquiring an additional 49,050 shares in the last quarter. Raymond James & Associates boosted its stake in Tidewater by 11.9% in the third quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company’s stock valued at $6,725,000 after acquiring an additional 9,952 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Tidewater by 23.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company’s stock valued at $8,431,000 after acquiring an additional 29,721 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in Tidewater by 75.2% in the third quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company’s stock valued at $4,193,000 after acquiring an additional 25,064 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Down 6.1 %

Shares of NYSE TDW opened at $45.64 on Monday. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 13.42 and a beta of 1.04. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater has a 52-week low of $43.32 and a 52-week high of $111.42. The business’s 50 day moving average is $53.75 and its two-hundred day moving average is $61.85.

Tidewater Company Profile

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.