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

Tidewater Inc. (NYSE:TDW) has earned an average rating of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $95.80.

A number of research analysts have recently commented on the stock. DNB Markets initiated coverage on shares of Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 price objective for the company. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $131.00 to $102.00 in a research note on Monday, November 11th.

Insider Buying and Selling at Tidewater

In related news, CEO Quintin Kneen acquired 41,615 shares of the business’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $48.06 per share, with a total value 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tidewater

A number of large investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its holdings in Tidewater by 8.1% in the 3rd quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock worth $257,000 after acquiring an additional 267 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Tidewater by 30.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company’s stock valued at $1,220,000 after buying an additional 3,969 shares during the last quarter. Neo Ivy Capital Management grew its position in shares of Tidewater by 22.5% during the third quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company’s stock worth $994,000 after buying an additional 2,544 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Tidewater by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock worth $78,473,000 after buying an additional 5,713 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Tidewater by 354.2% in the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock valued at $5,661,000 after purchasing an additional 61,487 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

Tidewater stock opened at $52.54 on Wednesday. The stock has a fifty day moving average price of $56.49 and a 200 day moving average price of $77.33. Tidewater has a 52 week low of $46.50 and a 52 week high of $111.42. The firm has a market capitalization of $2.75 billion, a P/E ratio of 15.45 and a beta of 1.10. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

About Tidewater

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.