Tidewater Inc. (NYSE:TDW) Given Consensus Recommendation of “Buy” by Brokerages

Tidewater Inc. (NYSE:TDW) has been given an average recommendation of “Buy” by the six research firms that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $95.80.

TDW has been the subject of several research reports. DNB Markets assumed coverage on Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 target price for the company. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. Finally, StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th.

Tidewater Trading Up 1.3 %

Shares of NYSE TDW opened at $56.46 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.95 billion, a PE ratio of 16.61 and a beta of 1.06. Tidewater has a twelve month low of $46.50 and a twelve month high of $111.42. The stock has a fifty day simple moving average of $52.99 and a 200-day simple moving average of $72.91.

Insiders Place Their Bets

In other Tidewater news, CEO Quintin Kneen purchased 41,615 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the acquisition, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at approximately $8,470,046.34. This represents a 30.91 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tidewater

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC raised its holdings in Tidewater by 8.1% during the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 267 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Tidewater by 30.5% in 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 raised its stake in Tidewater by 22.5% during the 3rd quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company’s stock worth $994,000 after acquiring an additional 2,544 shares in the last quarter. Geode Capital Management LLC lifted its position in 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 valued at $78,473,000 after acquiring an additional 5,713 shares during the last quarter. Finally, Barclays PLC boosted its stake in Tidewater by 354.2% in the third quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock valued at $5,661,000 after acquiring an additional 61,487 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

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.