Tidewater (NYSE:TDW) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Tidewater (NYSE:TDW) from a sell rating to a hold rating in a research report released on Friday.

Separately, Raymond James increased their target price on Tidewater from $133.00 to $138.00 and gave the company a strong-buy rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tidewater has a consensus rating of Buy and an average price target of $111.25.

Tidewater Stock Down 1.3 %

TDW stock opened at $70.31 on Friday. Tidewater has a twelve month low of $54.53 and a twelve month high of $111.42. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. The firm has a market cap of $3.69 billion, a PE ratio of 28.01 and a beta of 1.12. The business has a 50 day moving average of $81.00 and a 200 day moving average of $92.12.

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 analysts’ consensus estimates of $0.72 by $0.22. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The company had revenue of $339.20 million during the quarter, compared to analyst estimates of $331.85 million. During the same quarter last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 57.8% on a year-over-year basis. On average, research analysts forecast that Tidewater will post 4.4 EPS for the current fiscal year.

Tidewater declared that its board has initiated a share buyback program on Tuesday, August 6th that permits the company to repurchase $13.90 million in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 0.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Tidewater

A number of institutional investors and hedge funds have recently modified their holdings of TDW. GAMMA Investing LLC lifted its position in Tidewater by 135.4% during the second 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 in the last quarter. Quarry LP purchased a new position in Tidewater during the second quarter valued at $27,000. Transcendent Capital Group LLC purchased a new position in Tidewater during the first quarter valued at $28,000. Hollencrest Capital Management purchased a new position in Tidewater during the second quarter valued at $30,000. Finally, PNC Financial Services Group Inc. lifted 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 purchasing an additional 156 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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.