Analysts Set Tidewater Inc. (NYSE:TDW) Target Price at $95.80

Shares of Tidewater Inc. (NYSE:TDW) have been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $95.80.

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

Insider Buying and Selling

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

Institutional Trading of Tidewater

A number of institutional investors have recently made changes to their positions in TDW. Quarry LP purchased a new stake in Tidewater in the second quarter valued at about $27,000. Hollencrest Capital Management acquired a new stake in Tidewater in the 2nd quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new stake in Tidewater during the 4th quarter worth approximately $33,000. GAMMA Investing LLC increased its stake in Tidewater by 163.5% during the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 435 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of Tidewater in the third quarter worth $65,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Down 0.7 %

Shares of NYSE:TDW opened at $55.46 on Friday. 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 business’s 50 day moving average is $52.60 and its 200 day moving average is $71.57. The stock has a market cap of $2.90 billion, a P/E ratio of 16.31 and a beta of 1.06. Tidewater has a 52-week low of $46.50 and a 52-week high of $111.42.

Tidewater Company Profile

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.