Tidewater (NYSE:TDW) Shares Gap Up to $71.48

Tidewater Inc. (NYSE:TDW)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $71.48, but opened at $73.19. Tidewater shares last traded at $73.44, with a volume of 38,714 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Raymond James upped their target price on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com cut shares of Tidewater from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tidewater has an average rating of “Moderate Buy” and an average target price of $111.25.

Tidewater Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. The company has a market cap of $3.93 billion, a PE ratio of 29.69 and a beta of 1.13. The firm’s 50 day moving average is $88.73 and its 200 day moving average is $93.24.

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

Tidewater announced that its board has authorized a share 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Tidewater

Several institutional investors have recently added to or reduced their stakes in TDW. Vanguard Group Inc. raised its position in shares of Tidewater by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock worth $442,956,000 after acquiring an additional 985,398 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Tidewater by 11,317.3% during the 2nd quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock valued at $60,992,000 after buying an additional 639,765 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new stake in Tidewater during the first quarter worth about $34,898,000. Boston Partners raised its holdings in shares of Tidewater by 11.7% during the first quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after purchasing an additional 243,489 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Tidewater by 622.0% in the second quarter. Principal Financial Group Inc. now owns 277,346 shares of the oil and gas company’s stock worth $26,406,000 after purchasing an additional 238,933 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.