Tidewater Inc. (NYSE:TDW) Given Consensus Recommendation of “Buy” by Analysts

Tidewater Inc. (NYSE:TDW) has earned a consensus recommendation of “Buy” from the five brokerages that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $102.25.

A number of brokerages recently commented on TDW. Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th.

Tidewater Stock Performance

NYSE TDW opened at $50.44 on Friday. Tidewater has a 52-week low of $49.86 and a 52-week high of $111.42. The company has a fifty day moving average of $64.84 and a 200-day moving average of $84.51. The company has a market capitalization of $2.64 billion, a P/E ratio of 14.84 and a beta of 1.14. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29.

Tidewater announced that its Board of Directors has approved a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Tidewater

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Tidewater by 25.7% during the first quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock valued at $442,956,000 after acquiring an additional 985,398 shares during the last quarter. Boston Partners grew its stake in shares of Tidewater by 11.7% during the 1st 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 period. State Street Corp increased its position in shares of Tidewater by 1.9% during the 3rd quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company’s stock valued at $134,044,000 after purchasing an additional 35,318 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Tidewater by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock worth $78,473,000 after buying an additional 5,713 shares during the last quarter. Finally, Van ECK Associates Corp bought a new stake in Tidewater during the third quarter valued at approximately $51,089,000. 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.