Tidewater (NYSE:TDW) Price Target Increased to $138.00 by Analysts at Raymond James

Tidewater (NYSE:TDW) had its price target boosted by Raymond James from $133.00 to $138.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a strong-buy rating on the oil and gas company’s stock.

Separately, 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 report on Friday, May 10th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $111.25.

Tidewater Stock Down 3.1 %

NYSE:TDW traded down $2.70 on Thursday, reaching $84.60. The stock had a trading volume of 782,465 shares, compared to its average volume of 864,511. The company has a current ratio of 1.81, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $96.19 and a 200 day moving average of $90.62. The stock has a market cap of $4.46 billion, a P/E ratio of 33.71 and a beta of 1.20. Tidewater has a 12-month low of $54.53 and a 12-month high of $111.42.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.21%. The business had revenue of $339.20 million for the quarter, compared to analysts’ expectations of $331.85 million. During the same quarter last year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 57.8% compared to the same quarter last year. On average, research analysts predict that Tidewater will post 4.68 earnings per share for the current year.

Tidewater announced that its Board of Directors has authorized a stock buyback program on Thursday, May 2nd that authorizes the company to repurchase $18.10 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 0.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Tidewater

In other news, Director Kenneth Traub sold 20,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $106.38, for a total transaction of $2,127,600.00. Following the completion of the transaction, the director now owns 68,802 shares in the company, valued at $7,319,156.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tidewater news, CEO Quintin Kneen sold 166,000 shares of Tidewater stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $103.76, for a total transaction of $17,224,160.00. Following the sale, the chief executive officer now owns 335,718 shares of the company’s stock, valued at approximately $34,834,099.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth Traub sold 20,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $106.38, for a total value of $2,127,600.00. Following the completion of the transaction, the director now directly owns 68,802 shares of the company’s stock, valued at approximately $7,319,156.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 512,909 shares of company stock worth $54,277,485. 8.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Tidewater

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Tidewater by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock worth $442,956,000 after buying an additional 985,398 shares in the last quarter. Boston Partners increased its stake in shares of Tidewater by 11.7% during the first quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after acquiring an additional 243,489 shares during the period. Dimensional Fund Advisors LP raised its holdings in Tidewater by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,805,483 shares of the oil and gas company’s stock worth $130,195,000 after purchasing an additional 31,292 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Tidewater by 72.1% in the second quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company’s stock worth $42,257,000 after purchasing an additional 185,972 shares during the period. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in Tidewater during the 1st quarter valued at $34,898,000. 95.13% of the stock is currently owned by institutional investors.

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.