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

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

Separately, Raymond James increased their price objective 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. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $111.25.

Tidewater Stock Up 1.1 %

TDW stock opened at $71.48 on Wednesday. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 28.48 and a beta of 1.13. Tidewater has a fifty-two week low of $54.53 and a fifty-two week high of $111.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 1.90. The company’s 50 day moving average price is $89.51 and its 200 day moving average price is $93.09.

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

Tidewater announced that its Board of Directors has authorized 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 repurchase up to 0.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Tidewater

Several hedge funds have recently modified their holdings of the stock. Sage Mountain Advisors LLC lifted its holdings in shares of Tidewater by 4.8% during the second quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 120 shares during the period. GAMMA Investing LLC lifted its holdings in Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 153 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Tidewater by 71.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 156 shares during the period. Natixis Advisors LLC lifted its holdings in Tidewater by 0.7% in the second quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock valued at $2,525,000 after acquiring an additional 174 shares during the period. Finally, Precision Wealth Strategies LLC lifted its holdings in Tidewater by 8.5% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 264 shares during the period. 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.