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

Tidewater Inc. (NYSE:TDW) has been given an average recommendation of “Buy” by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $95.80.

TDW has been the topic of several research analyst reports. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, DNB Markets started coverage on shares of Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 price target for the company.

Tidewater Stock Up 11.7 %

Tidewater stock opened at $52.54 on Wednesday. The stock’s 50 day moving average price is $56.49 and its 200 day moving average price is $77.33. Tidewater has a 1-year low of $46.50 and a 1-year high of $111.42. The company has a market cap of $2.75 billion, a PE ratio of 15.45 and a beta of 1.10. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

Insider Buying and Selling at Tidewater

In other Tidewater news, CEO Quintin Kneen purchased 41,615 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the transaction, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at $8,470,046.34. This trade represents a 30.91 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 8.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 153 shares during the last quarter. Quarry LP purchased a new stake in Tidewater during the 2nd quarter worth about $27,000. Hollencrest Capital Management acquired a new position in Tidewater in the 2nd quarter valued at about $30,000. Northwest & Ethical Investments L.P. purchased a new position in Tidewater in the 3rd quarter valued at about $65,000. Finally, Headlands Technologies LLC grew its holdings in shares of Tidewater by 6,322.2% during the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,138 shares in the last quarter. 95.13% of the stock is currently 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.