Tidewater's Stock Downgraded to 'Sell' by StockNews.com Analysts

In a recent research note issued on Friday, analysts at StockNews.com have downgraded their recommendation for Tidewater Inc. TDW from a 'hold' to a 'sell' rating. The downgrade presents a shift in sentiment toward the oil and gas service company's near-term prospects in the stock market.

Multiple Brokerages Weigh In on TDW

Aside from StockNews.com, other brokerages have also offered their opinions on Tidewater. Notably, Raymond James initiated coverage of TDW with a 'strong-buy' rating and an $85.00 price target on July 13th. Furthermore, BTIG Research increased their price target on TDW from $75.00 to $91.00, maintaining a 'buy' rating on September 20th. Currently, Tidewater has a consensus rating of 'Moderate Buy' and a price target averaging at $88.67, reflecting various views from investment analysts.

Insider Transactions at Tidewater

There have been notable insider transactions within the company, adding layers to the investment perspective. On September 7th, Director Robert Robotti acquired 1,486 shares at an average price of $67.32, totaling over $100,000 in investment and bringing his direct ownership to 3,235,657 shares. Conversely, Tidewater's CFO Samuel R. Rubio sold 21,788 shares at an average price of $62.37 on August 14th. The details of these insider transactions are filed with the SEC and demonstrate the active engagement of Tidewater's insiders with the company's stock.

Institutional Investors and Tidewater

In terms of institutional investment, Tidewater has experienced various changes in holdings. Noteworthy institutions include Slate Path Capital LP, Renaissance Technologies LLC, Millennium Management LLC, and Dimensional Fund Advisors LP, all of which made significant adjustments to their stakes in TDW. Institutional ownership of Tidewater's stock stands high, evidencing the trust and involvement of hedge funds and institutional investors in the company.

TDW's Market Performance

The market performance of TDW has displayed volatility, with the stock price fluctuating between a fifty-two week low of $28.14 and a high of $73.55. Currently, Tidewater's market capitalization is approximately $3.19 billion, with a somewhat high P/E ratio of 45.38 and a beta of 1.33.

About Tidewater Inc.

TDW is a prominent player in offshore support services, catering to the offshore energy industry with a fleet of marine service vessels worldwide. Tidewater's operations are crucial for supporting offshore crude oil and natural gas exploration, field development activities, as well as in the budding windfarm development sector, providing a range of specialized offshore services.

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