Tidewater (NYSE:TDW) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Tidewater (NYSE:TDW) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Separately, Raymond James lifted their target price on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tidewater currently has an average rating of “Moderate Buy” and a consensus price target of $111.25.

Tidewater Stock Performance

Shares of TDW opened at $63.42 on Wednesday. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 21.00 and a beta of 1.12. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. Tidewater has a 52-week low of $54.53 and a 52-week high of $111.42. The stock has a 50 day moving average price of $77.63 and a 200 day moving average price of $90.88.

Tidewater (NYSE:TDW) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The business had revenue of $339.20 million during the quarter, compared to analysts’ expectations of $331.85 million. During the same quarter in the prior year, the business posted $0.46 EPS. The company’s revenue for the quarter was up 57.8% on a year-over-year basis. Research analysts predict that Tidewater will post 4.4 EPS for the current fiscal year.

Tidewater declared that its Board of Directors has initiated a stock buyback program on Tuesday, August 6th that allows the company to buyback $13.90 million in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Sage Mountain Advisors LLC grew its holdings in shares of Tidewater by 4.8% during the second quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock worth $251,000 after buying an additional 120 shares during the last quarter. GAMMA Investing LLC lifted its position in Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 153 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 156 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Tidewater by 0.7% in the second quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock valued at $2,525,000 after purchasing an additional 174 shares during the period. Finally, Xponance Inc. raised its stake in shares of 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 purchasing an additional 279 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.