Tidewater (NYSE:TDW) Stock Rating Lowered by StockNews.com

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

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

Tidewater Stock Performance

Shares of Tidewater stock opened at $60.34 on Friday. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 24.04 and a beta of 1.12. The firm’s 50-day moving average is $73.16 and its 200 day moving average is $88.60. Tidewater has a 1 year low of $54.53 and a 1 year high of $111.42. 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 released 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 analyst estimates of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The business’s revenue for the quarter was up 57.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 EPS. Sell-side analysts anticipate that Tidewater will post 4.4 EPS for the current fiscal year.

Tidewater announced that its Board of Directors has authorized a share 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 reacquire up to 0.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake 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 purchasing an additional 153 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Tidewater by 71.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 156 shares in the last quarter. Quarry LP acquired a new stake in shares of Tidewater during the 2nd quarter worth about $27,000. Transcendent Capital Group LLC purchased a new position in Tidewater during the 1st quarter worth approximately $28,000. Finally, Hollencrest Capital Management purchased a new position in shares of Tidewater in the 2nd quarter valued at approximately $30,000. 95.13% of the stock is 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.