Tidewater (NYSE:TDW) Earns Buy Rating from Analysts at DNB Markets

Stock analysts at DNB Markets started coverage on shares of Tidewater (NYSE:TDW) in a report issued on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $70.00 price target on the oil and gas company’s stock. DNB Markets’ price objective indicates a potential upside of 35.34% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $131.00 to $102.00 in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.80.

Tidewater Trading Up 2.9 %

TDW opened at $51.72 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater has a 52 week low of $49.83 and a 52 week high of $111.42. The business’s 50 day moving average is $61.75 and its two-hundred day moving average is $81.99. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 15.21 and a beta of 1.14.

Tidewater announced that its board has approved a stock buyback program on Tuesday, August 6th that authorizes the company to buyback $13.90 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 0.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Tidewater

A number of hedge funds and other institutional investors have recently bought and sold shares of TDW. Tidal Investments LLC raised its position in Tidewater by 8.1% during the 3rd quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock worth $257,000 after buying an additional 267 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Tidewater by 30.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company’s stock worth $1,220,000 after purchasing an additional 3,969 shares in the last quarter. Neo Ivy Capital Management raised its holdings in Tidewater by 22.5% during the third quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company’s stock worth $994,000 after purchasing an additional 2,544 shares in the last quarter. Geode Capital Management LLC lifted its position in 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 valued at $78,473,000 after purchasing an additional 5,713 shares during the period. Finally, Barclays PLC boosted its holdings in Tidewater by 354.2% in the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock valued at $5,661,000 after purchasing an additional 61,487 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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.