Tidewater (NYSE:TDW) Stock Keeps “Buy” Rating at BTIG Research

Tidewater (NYSE:TDW)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a research note issued to investors on Friday, Benzinga reports. They presently have a $120.00 target price on the oil and gas company’s stock. BTIG Research’s target price indicates a potential upside of 41.10% from the company’s previous close.

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

Tidewater Price Performance

Shares of TDW stock traded up $0.35 during trading hours on Friday, reaching $85.05. The company’s stock had a trading volume of 71,852 shares, compared to its average volume of 745,216. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47. Tidewater has a fifty-two week low of $46.65 and a fifty-two week high of $101.57. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 17.29 and a beta of 0.60. The firm’s 50 day simple moving average is $88.50 and its 200-day simple moving average is $81.52.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The firm had revenue of $342.29 million for the quarter, compared to analyst estimates of $329.97 million. During the same period last year, the business earned $1.46 EPS. The company’s revenue was up .3% compared to the same quarter last year. Sell-side analysts forecast that Tidewater will post 3.08 earnings per share for the current year.

Insider Transactions at Tidewater

In other news, Director Kenneth Traub sold 10,000 shares of Tidewater stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the transaction, the director directly owned 63,521 shares of the company’s stock, valued at approximately $6,288,579. This trade represents a 13.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Samuel Rubio sold 17,705 shares of Tidewater stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total value of $1,621,069.80. Following the completion of the transaction, the executive vice president directly owned 33,214 shares of the company’s stock, valued at approximately $3,041,073.84. This trade represents a 34.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 42,705 shares of company stock valued at $4,097,270. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Tidewater

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Tidewater by 7.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,236 shares of the oil and gas company’s stock worth $262,000 after buying an additional 221 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Tidewater by 5.6% in the third quarter. Farther Finance Advisors LLC now owns 37,992 shares of the oil and gas company’s stock valued at $3,081,000 after purchasing an additional 2,029 shares during the last quarter. Versant Capital Management Inc lifted its stake in 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 purchasing an additional 435 shares during the last quarter. Tidal Investments LLC lifted its stake in Tidewater by 26.1% in the second quarter. Tidal Investments LLC now owns 14,114 shares of the oil and gas company’s stock valued at $940,000 after purchasing an additional 2,923 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Tidewater in the second quarter valued at approximately $74,000. 95.13% of the stock is owned by 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.