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

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

Separately, Raymond James upped 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 equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Tidewater Price Performance

TDW stock opened at $62.17 on Wednesday. The stock has a 50-day moving average price of $76.71 and a two-hundred day moving average price of $90.45. Tidewater has a 12-month low of $54.53 and a 12-month high of $111.42. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. The company has a market cap of $3.26 billion, a PE ratio of 20.59 and a beta of 1.12.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $339.20 million during the quarter, compared to the consensus estimate of $331.85 million. During the same quarter in the previous year, the business earned $0.46 earnings per share. The firm’s quarterly revenue was up 57.8% compared to the same quarter last year. As a group, research analysts predict that Tidewater will post 4.4 EPS for the current year.

Tidewater announced that its Board of Directors has authorized a stock buyback program 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 programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Tidewater

Institutional investors and hedge funds have recently modified their holdings of the stock. CreativeOne Wealth LLC purchased a new position in Tidewater in the first quarter valued at about $542,000. Russell Investments Group Ltd. grew its stake in Tidewater by 17.3% during the 1st quarter. Russell Investments Group Ltd. now owns 86,750 shares of the oil and gas company’s stock valued at $7,981,000 after purchasing an additional 12,799 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Tidewater during the 1st quarter valued at approximately $5,658,000. Sei Investments Co. grew its stake in Tidewater by 106.8% during the 1st quarter. Sei Investments Co. now owns 13,987 shares of the oil and gas company’s stock valued at $1,287,000 after purchasing an additional 7,225 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Tidewater by 244.3% during the 1st quarter. Principal Financial Group Inc. now owns 38,413 shares of the oil and gas company’s stock valued at $3,534,000 after purchasing an additional 27,257 shares in 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.