Tidewater (NYSE:TDW) Downgraded by Evercore ISI to In-Line

Evercore ISI downgraded shares of Tidewater (NYSE:TDW) from an outperform rating to an in-line rating in a research note published on Wednesday morning, MarketBeat reports. The firm currently has $68.00 target price on the oil and gas company’s stock, down from their previous target price of $112.00.

Several other analysts also recently commented on the stock. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $131.00 to $102.00 in a report on Monday, November 11th. DNB Markets assumed coverage on Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.60.

Tidewater Trading Up 0.7 %

Shares of Tidewater stock opened at $55.78 on Wednesday. The company has a market capitalization of $2.92 billion, a P/E ratio of 16.41 and a beta of 1.06. The stock has a fifty day simple moving average of $52.03 and a 200 day simple moving average of $70.40. Tidewater has a 12-month low of $46.50 and a 12-month high of $111.42. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its holdings in shares of Tidewater by 8.1% in the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 267 shares during the period. Xponance Inc. grew its position in Tidewater by 9.9% during the second quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock worth $294,000 after buying an additional 279 shares in the last quarter. Quarry LP purchased a new position in Tidewater during the second quarter worth about $27,000. Hollencrest Capital Management bought a new position in Tidewater in the 2nd quarter worth about $30,000. Finally, Glenmede Trust Co. NA raised its holdings in shares of Tidewater by 3.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,479 shares of the oil and gas company’s stock valued at $680,000 after acquiring an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.