Tidewater (NYSE:TDW) Lowered to “In-Line” Rating by Evercore ISI

Tidewater (NYSE:TDW) was downgraded by equities research analysts at Evercore ISI from an “outperform” rating to an “in-line” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $68.00 price objective on the oil and gas company’s stock, down from their prior price objective of $112.00. Evercore ISI’s target price would suggest a potential upside of 22.66% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. DNB Markets began coverage on Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective for the company. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.60.

Tidewater Trading Down 1.9 %

NYSE:TDW opened at $55.44 on Wednesday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 16.30 and a beta of 1.06. Tidewater has a 52 week low of $46.50 and a 52 week high of $111.42. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $52.21 and a 200 day moving average of $70.75.

Insiders Place Their Bets

In other news, CEO Quintin Kneen acquired 41,615 shares of Tidewater stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the purchase, the chief executive officer now directly owns 176,239 shares in the company, valued at $8,470,046.34. This trade represents a 30.91 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tidewater

Large investors have recently bought and sold shares of the company. State Street Corp lifted its stake in Tidewater by 1.9% during the 3rd quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company’s stock valued at $134,044,000 after acquiring an additional 35,318 shares during the period. Geode Capital Management LLC raised its holdings in shares of Tidewater by 0.5% during 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 purchasing an additional 5,713 shares during the last quarter. Van ECK Associates Corp acquired a new position in Tidewater during the third quarter valued at $51,089,000. Hsbc Holdings PLC boosted its holdings in Tidewater by 11,317.3% in the second quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock valued at $60,992,000 after purchasing an additional 639,765 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Tidewater by 173.4% during the 3rd quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock worth $43,666,000 after purchasing an additional 385,779 shares during the period. Hedge funds and other institutional investors 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.