Tidewater (NYSE:TDW) Earns “Buy” Rating from BTIG Research

Tidewater (NYSE:TDW)‘s stock had its “buy” rating restated by investment analysts at BTIG Research in a report released on Friday, Benzinga reports. They currently have a $120.00 target price on the oil and gas company’s stock. BTIG Research’s price target indicates a potential upside of 40.75% from the stock’s current price.

A number of other analysts also recently issued reports on TDW. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Weiss Ratings raised shares of Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 11th. Finally, Barclays lifted their price objective on shares of Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.25.

Tidewater Stock Up 0.7%

TDW stock traded up $0.56 during mid-day trading on Friday, hitting $85.26. 26,024 shares of the company were exchanged, compared to its average volume of 744,972. 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 $4.24 billion, a P/E ratio of 17.27 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 has a 1-year low of $46.65 and a 1-year high of $101.57.

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

Insiders Place Their Bets

In other news, EVP Samuel R. Rubio sold 17,705 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the sale, the executive vice president directly owned 33,214 shares in the company, valued at approximately $3,041,073.84. The trade was 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 the SEC website. Also, EVP Daniel A. Hudson sold 15,000 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $99.08, for a total value of $1,486,200.00. Following the sale, the executive vice president owned 33,029 shares in the company, valued at approximately $3,272,513.32. This trade represents a 31.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 42,705 shares of company stock valued at $4,097,270. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Tidewater

Several institutional investors have recently added to or reduced their stakes in TDW. Blue Trust Inc. bought a new stake in Tidewater in the first quarter valued at approximately $26,000. Public Employees Retirement System of Ohio bought a new position in shares of Tidewater during the 2nd quarter worth approximately $27,000. Longview Financial Advisors Inc. bought a new position in shares of Tidewater in the 1st quarter worth $54,000. Versant Capital Management Inc lifted its holdings in shares of Tidewater by 142.6% in the 3rd quarter. Versant Capital Management Inc now owns 740 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 435 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Tidewater by 37.3% in the 1st quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 208 shares in the last quarter. 95.13% of the stock is currently 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.