Tidewater Inc. (NYSE:TDW – Free Report) shares have received a unanimous “Buy” recommendation from the five brokerages that are currently covering the company, MarketBeat.com reports. Four equities analysts have rated the stock a “Buy” and one has given the company a “Strong Buy” rating. The average price target for the next twelve months among analysts that have covered the stock in the last year is $111.25.
Several analysts have commented on the stock. BTIG Research increased their price target on shares of Tidewater from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, May 10. Raymond James increased their price target on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong buy” rating in a report on Thursday.
Check out our latest stock analysis on TDW
Tidewater shares down 3.1%
TDW opened at $84.60 on Thursday. The company has a debt-to-equity ratio of 0.59, a short-term equity ratio of 1.74 and a short-term equity ratio of 1.81. Tidewater has a 52-week low of $54.53 and a 52-week high of $111.42. The company’s 50-day moving average is $96.19 and its 200-day moving average is $90.75. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 33.71 and a beta of 1.20.
Tidewater (NYSE:TDW – Get Free Report) last released its earnings results on Tuesday, August 6. The oil and gas company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.21%. The company had revenue of $339.20 million for the quarter, compared to analysts’ expectations of $331.85 million. In the same quarter last year, the company generated earnings per share of $0.46. Tidewater’s revenue for the quarter grew 57.8% year-over-year. On average, sell-side analysts forecast that Tidewater will post earnings per share of $4.68 for the current fiscal year.
Tidewater announced that its board of directors approved a share repurchase program on Thursday, May 2, allowing the company to buy back $18.10 million worth of shares. This repurchase authorization allows the oil and gas company to buy back up to 0.4% of its shares through the open market. Share repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Insider transactions at Tidewater
In other news, Director Darron M. Anderson sold 1,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 22. The shares were sold at an average price of $102.11, for a total value of $178,692.50. Following the completion of the sale, the director now owns 41,447 shares of the company’s stock, valued at approximately $4,232,153.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. In related news, Director Darron M. Anderson sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 24. The shares were sold at an average price of $103.89, for a total transaction of $103,890.00. Following the completion of the sale, the director now owns 40,447 shares of the company’s stock, valued at $4,202,038.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Also, Director Darron M. Anderson sold 1,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 22. The shares were sold at an average price of $102.11, for a total transaction of $178,692.50. Following the sale, the director now directly owns 41,447 shares of the company’s stock, valued at approximately $4,232,153.17. The disclosure for this sale can be found here. During the last quarter, insiders sold 512,909 shares of the company’s stock, valued at $54,277,485. Company insiders own 8.33% of the company’s stock.
Institutional investors comment on Tidewater
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bradley Foster & Sargent Inc. CT acquired a new position in shares of Tidewater during the second quarter valued at $1,093,000. Virtu Financial LLC acquired a new position in shares of Tidewater during the second quarter valued at $1,136,000. CoreCap Advisors LLC acquired a new position in shares of Tidewater during the second quarter valued at $439,000. Headlands Technologies LLC increased its holdings in shares of Tidewater by 6,322.2% during the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,138 shares during the last quarter. Finally, Emerald Advisers LLC increased its holdings in shares of Tidewater by 33.8% during the second quarter. Emerald Advisers LLC now owns 270,023 shares of the oil and gas company’s stock valued at $25,709,000 after purchasing an additional 68,222 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.
About Tidewater
(Get free report
Tidewater Inc., together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry by operating a fleet of marine support vessels worldwide. It offers services to support offshore oil and gas exploration, field development and production, and wind farm development and maintenance, including towing and anchoring for mobile offshore drilling units, transportation of supplies and personnel required to sustain drilling, workover and production activities, offshore construction and seismic and subsea support, geotechnical survey support for wind farm construction, and various specialty services such as pipe and cable laying.
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