Tidewater Inc. (NYSE:TDW) Receives $102.25 Average PT from Brokerages

Shares of Tidewater Inc. (NYSE:TDW) have been assigned a consensus recommendation of “Buy” from the five research firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $102.25.

TDW has been the topic of a number of recent research reports. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th.

Institutional Investors Weigh In On Tidewater

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Tidewater by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock valued at $442,956,000 after purchasing an additional 985,398 shares during the period. Van ECK Associates Corp bought a new position in shares of Tidewater in the third quarter valued at $51,089,000. Hsbc Holdings PLC lifted its position in Tidewater by 11,317.3% in the 2nd quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock valued at $60,992,000 after acquiring an additional 639,765 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Tidewater by 173.4% in the third quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock valued at $43,666,000 after purchasing an additional 385,779 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC purchased a new position in Tidewater during the 3rd quarter worth $25,871,000. 95.13% of the stock is owned by institutional investors.

Tidewater Price Performance

Shares of NYSE TDW opened at $50.97 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 firm has a market cap of $2.67 billion, a P/E ratio of 14.99 and a beta of 1.14. The business’s 50 day moving average is $65.61 and its 200-day moving average is $85.14. Tidewater has a 1-year low of $50.33 and a 1-year high of $111.42.

Tidewater declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 6th that allows the company to repurchase $13.90 million in shares. This repurchase authorization allows the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.