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

Tidewater Inc. (NYSE:TDW) has been given a consensus rating of “Buy” by the five analysts that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $111.25.

Separately, Raymond James boosted their price objective on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 8th.

Tidewater Price Performance

Shares of NYSE TDW opened at $74.43 on Monday. The firm has a 50-day simple moving average of $91.82 and a 200-day simple moving average of $93.30. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 29.65 and a beta of 1.13. Tidewater has a 52 week low of $54.53 and a 52 week high of $111.42.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.22. The company had revenue of $339.20 million during the quarter, compared to the consensus estimate of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. Tidewater’s quarterly revenue was up 57.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. On average, equities analysts predict that Tidewater will post 4.4 earnings per share for the current fiscal year.

Tidewater declared that its Board of Directors has authorized a stock repurchase program on Tuesday, August 6th that allows the company to repurchase $13.90 million in shares. This repurchase authorization allows the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Kenneth Traub sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $106.38, for a total value of $2,127,600.00. Following the transaction, the director now owns 68,802 shares of the company’s stock, valued at approximately $7,319,156.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Kenneth Traub sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $106.38, for a total value of $2,127,600.00. Following the sale, the director now directly owns 68,802 shares of the company’s stock, valued at approximately $7,319,156.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Quintin Kneen sold 166,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $103.76, for a total transaction of $17,224,160.00. Following the completion of the transaction, the chief executive officer now owns 335,718 shares in the company, valued at $34,834,099.68. The disclosure for this sale can be found here. 8.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Tidewater

Institutional investors have recently modified their holdings of the company. Boston Partners boosted its holdings in Tidewater by 32,536.3% during the 4th 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 period. Vanguard Group Inc. lifted its position in shares of Tidewater by 25.7% during the first quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock worth $442,956,000 after purchasing an additional 985,398 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Tidewater by 11,317.3% in the second quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock valued at $60,992,000 after purchasing an additional 639,765 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in shares of Tidewater in the first quarter valued at approximately $34,898,000. Finally, Principal Financial Group Inc. increased its stake in Tidewater by 622.0% during the 2nd quarter. Principal Financial Group Inc. now owns 277,346 shares of the oil and gas company’s stock worth $26,406,000 after buying an additional 238,933 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

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.