Tidewater (NYSE:TDW) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Tidewater (NYSE:TDW) from a hold rating to a sell rating in a report issued on Saturday morning.

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

Tidewater Stock Down 0.9 %

Shares of NYSE TDW opened at $61.02 on Friday. Tidewater has a 12-month low of $54.53 and a 12-month high of $111.42. The company has a market capitalization of $3.22 billion, a PE ratio of 24.31 and a beta of 1.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. The firm’s 50-day moving average is $74.24 and its two-hundred day moving average is $89.18.

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

Tidewater declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that permits the company to buyback $13.90 million in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 0.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Tidewater

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after buying an additional 153 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Tidewater by 71.6% during 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. Quarry LP acquired a new stake in Tidewater during the second quarter worth about $27,000. Transcendent Capital Group LLC purchased a new position in shares of Tidewater in the 1st quarter worth about $28,000. Finally, Hollencrest Capital Management acquired a new position in shares of Tidewater in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds 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.