Tidewater (NYSE:TDW) Coverage Initiated at Barclays

Investment analysts at Barclays began coverage on shares of Tidewater (NYSE:TDW) in a note issued to investors on Wednesday. The firm set an “equal weight” rating and a $80.00 price target on the oil and gas company’s stock. Barclays‘s target price would suggest a potential downside of 4.40% from the stock’s current price.

TDW has been the subject of several other research reports. Raymond James Financial set a $117.00 target price on shares of Tidewater in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Dawson James reaffirmed an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Finally, Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $87.33.

Tidewater Trading Up 2.2%

NYSE:TDW opened at $83.69 on Wednesday. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 12.53 and a beta of 0.57. Tidewater has a one year low of $31.17 and a one year high of $88.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.78 and a current ratio of 2.90. The business’s 50-day simple moving average is $72.86 and its 200 day simple moving average is $60.41.

Tidewater (NYSE:TDW) last announced its earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $3.64. The company had revenue of $336.80 million for the quarter, compared to analyst estimates of $329.39 million. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.Tidewater’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 EPS. As a group, sell-side analysts predict that Tidewater will post 3.25 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Samuel R. Rubio sold 22,461 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the completion of the transaction, the executive vice president owned 60,066 shares in the company, valued at approximately $4,808,283.30. This trade represents a 27.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Daniel A. Hudson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the completion of the sale, the executive vice president owned 50,986 shares in the company, valued at $3,951,415. The trade was a 22.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 52,656 shares of company stock valued at $4,079,112. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Tidewater

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. grew its holdings in shares of Tidewater by 401.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 413 shares during the last quarter. Blume Capital Management Inc. lifted its holdings in shares of Tidewater by 128.3% during the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. Clearstead Advisors LLC boosted its position in shares of Tidewater by 22.2% in the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 158 shares during the period. EverSource Wealth Advisors LLC increased its stake in Tidewater by 701.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 870 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Tidewater in the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

About Tidewater

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.