Raymond James Issues Pessimistic Forecast for Tidewater (NYSE:TDW) Stock Price

Tidewater (NYSE:TDW) had its price objective cut by Raymond James from $76.00 to $70.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

A number of other equities analysts also recently commented on the stock. Pickering Energy Partners downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.50.

Tidewater Trading Up 0.8 %

Shares of NYSE TDW opened at $41.44 on Wednesday. Tidewater has a fifty-two week low of $31.17 and a fifty-two week high of $110.06. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 12.19 and a beta of 1.00. The business’s 50 day moving average price is $38.55 and its 200-day moving average price is $48.28.

Tidewater (NYSE:TDW) last released its earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.24. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share. On average, sell-side analysts expect that Tidewater will post 3.25 earnings per share for the current year.

Insider Activity at Tidewater

In related news, Director Robert Robotti bought 25,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the transaction, the director now owns 2,208,670 shares of the company’s stock, valued at $88,589,753.70. The trade was a 1.14 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tidewater

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Tidewater by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company’s stock valued at $300,155,000 after purchasing an additional 56,919 shares during the last quarter. Robotti Robert grew its position in shares of Tidewater by 1.1% in the 4th quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company’s stock worth $144,050,000 after buying an additional 28,083 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Tidewater by 20.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock worth $126,180,000 after acquiring an additional 390,814 shares in the last quarter. Encompass Capital Advisors LLC lifted its position in Tidewater by 17.7% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company’s stock valued at $86,569,000 after acquiring an additional 238,170 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Tidewater by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company’s stock valued at $84,888,000 after acquiring an additional 286,097 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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.