Tidewater (NYSE:TDW) Given Buy Rating at BTIG Research

Tidewater (NYSE:TDW)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a report released on Friday, Benzinga reports. They presently have a $120.00 price target on the oil and gas company’s stock. BTIG Research’s price objective suggests a potential upside of 41.70% from the stock’s previous close.

TDW has been the subject of a number of other research reports. Barclays boosted their price target on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Finally, Weiss Ratings raised Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.25.

Tidewater Price Performance

Shares of NYSE TDW opened at $84.68 on Friday. The firm has a fifty day moving average of $88.50 and a 200 day moving average of $81.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. The firm has a market cap of $4.21 billion, a PE ratio of 17.14 and a beta of 0.60. Tidewater has a one year low of $46.65 and a one year high of $101.57.

Tidewater (NYSE:TDW) last released its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The firm had revenue of $342.29 million for the quarter, compared to analysts’ expectations of $329.97 million. During the same quarter in the previous year, the company posted $1.46 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. As a group, research analysts predict that Tidewater will post 3.08 EPS for the current fiscal year.

Insider Activity

In other Tidewater news, EVP Samuel R. Rubio sold 17,705 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the transaction, the executive vice president directly owned 33,214 shares of the company’s stock, valued at $3,041,073.84. This trade represents a 34.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel A. Hudson sold 15,000 shares of Tidewater stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $99.08, for a total transaction of $1,486,200.00. Following the completion of the transaction, the executive vice president owned 33,029 shares of the company’s stock, valued at $3,272,513.32. This trade represents a 31.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,705 shares of company stock worth $4,097,270 in the last three months. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new position in Tidewater in the first quarter worth $26,000. Public Employees Retirement System of Ohio acquired a new position in shares of Tidewater during the second quarter valued at $27,000. Longview Financial Advisors Inc. bought a new stake in shares of Tidewater in the first quarter worth about $54,000. Versant Capital Management Inc lifted its position in shares of Tidewater by 142.6% in the third quarter. Versant Capital Management Inc now owns 740 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 435 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Tidewater by 37.3% during the 1st quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 208 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

About Tidewater

Tidewater Inc is a global provider of offshore marine support services to the energy industry. The company operates a fleet of offshore support vessels that transport personnel, equipment and supplies to offshore facilities and assist with marine logistics, construction, maintenance and other activities.

Its vessel portfolio includes platform supply vessels, anchor-handling tug supply vessels, fast support vessels and other specialized ships designed for offshore operations. Tidewater serves customers involved in offshore oil and gas development, as well as selected activities associated with offshore wind and other marine energy projects.

Founded in 1955, Tidewater is headquartered in Houston, Texas, and serves offshore markets across regions including the Americas, Europe, the Middle East, Africa and Asia-Pacific.