Tidewater (NYSE:TDW) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Tidewater (NYSE:TDW) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

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

Tidewater Trading Down 1.0 %

Shares of NYSE:TDW opened at $71.25 on Friday. The business’s 50 day moving average price is $81.51 and its 200-day moving average price is $92.25. Tidewater has a 1 year low of $54.53 and a 1 year high of $111.42. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 28.39 and a beta of 1.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82.

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

Tidewater declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $13.90 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Tidewater

Institutional investors and hedge funds have recently made changes to their positions in the business. Sage Mountain Advisors LLC grew its holdings in 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 acquiring an additional 120 shares during the period. GAMMA Investing LLC raised its holdings in Tidewater by 135.4% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 153 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Tidewater by 71.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock worth $27,000 after buying an additional 156 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Tidewater by 0.7% in the 2nd 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 last quarter. Finally, Xponance Inc. increased its stake 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 acquiring an additional 279 shares during the last quarter. 95.13% of the stock is 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.