Tidewater (NYSE:TDW) 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 note published on Wednesday morning.

Separately, Raymond James boosted 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 equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $111.25.

Tidewater Trading Up 0.4 %

NYSE TDW opened at $63.42 on Wednesday. Tidewater has a 12 month low of $54.53 and a 12 month high of $111.42. The stock has a market capitalization of $3.33 billion, a P/E ratio of 21.00 and a beta of 1.12. The firm’s 50-day moving average is $77.63 and its two-hundred day moving average is $90.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82.

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

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

Hedge Funds Weigh In On Tidewater

Several institutional investors have recently modified their holdings of the business. Sage Mountain Advisors LLC boosted its holdings in Tidewater by 4.8% in the second quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock valued at $251,000 after purchasing an additional 120 shares during the period. GAMMA Investing LLC raised its position in Tidewater by 135.4% in the 2nd 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. PNC Financial Services Group Inc. boosted its stake in shares of Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 156 shares during the period. Natixis Advisors LLC grew its position in shares of Tidewater by 0.7% during the second quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock worth $2,525,000 after buying an additional 174 shares in the last quarter. Finally, Xponance Inc. increased its stake in shares of Tidewater by 9.9% during the second quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock worth $294,000 after buying an additional 279 shares during the period. 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.