Analysts Set Tidewater Inc. (NYSE:TDW) Price Target at $92.50

Shares of Tidewater Inc. (NYSE:TDW) have received an average recommendation of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $92.50.

Several research firms have recently issued reports on TDW. DNB Markets began coverage on shares of Tidewater in a report on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective for the company. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and cut their target price for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th.

Tidewater Stock Performance

Shares of TDW opened at $44.17 on Friday. The firm has a market capitalization of $2.27 billion, a PE ratio of 12.99 and a beta of 1.06. 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 firm has a 50-day moving average price of $49.00 and a 200 day moving average price of $55.78. Tidewater has a 52-week low of $38.65 and a 52-week high of $111.42.

Insider Buying and Selling at Tidewater

In other news, Director Robert Robotti purchased 25,000 shares of Tidewater stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the transaction, the director now owns 2,208,670 shares in the company, valued at $88,589,753.70. The trade was a 1.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.33% of the company’s stock.

Hedge Funds Weigh In On Tidewater

Several institutional investors and hedge funds have recently added to or reduced their stakes in TDW. Fortitude Family Office LLC purchased a new stake in shares of Tidewater in the fourth quarter valued at $33,000. AlphaQuest LLC lifted its stake in Tidewater by 177.4% in the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 511 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Tidewater during the 4th quarter worth about $53,000. Quarry LP grew its stake in Tidewater by 187.6% during the 3rd quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock valued at $58,000 after acquiring an additional 531 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Tidewater by 45.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 333 shares during the period. 95.13% of the stock is currently owned by hedge funds and other 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.