Tidewater (NYSE:TDW) Cut to “Sell” at StockNews.com

Tidewater (NYSE:TDW) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Separately, Raymond James lifted their target price on shares of Tidewater from $133.00 to $138.00 and gave the stock 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $111.25.

Tidewater Price Performance

Shares of TDW stock traded up $0.23 during trading hours on Wednesday, hitting $63.42. 1,198,065 shares of the company’s stock were exchanged, compared to its average volume of 880,071. Tidewater has a 12-month low of $54.53 and a 12-month high of $111.42. The company has a market capitalization of $3.35 billion, a PE ratio of 25.27 and a beta of 1.12. The business’s 50 day simple moving average is $77.63 and its 200-day simple moving average is $90.88. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56.

Tidewater (NYSE:TDW) last posted 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. The business had revenue of $339.20 million during 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 company’s revenue was up 57.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. On average, equities research analysts anticipate that Tidewater will post 4.4 earnings per share for the current year.

Tidewater declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that authorizes the company to buyback $13.90 million in outstanding 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Tidewater

Institutional investors have recently bought and sold shares of the stock. Sage Mountain Advisors LLC raised its position in shares of Tidewater by 4.8% in the 2nd quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock worth $251,000 after acquiring an additional 120 shares in the last quarter. GAMMA Investing LLC grew its stake in Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 153 shares during the period. PNC Financial Services Group Inc. raised 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 worth $27,000 after purchasing an additional 156 shares in the last quarter. Natixis Advisors LLC lifted its position in Tidewater by 0.7% during 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 buying an additional 174 shares during the period. Finally, Xponance Inc. boosted its holdings in shares of Tidewater by 9.9% during the 2nd quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock valued at $294,000 after buying an additional 279 shares in the last quarter. 95.13% of the stock is owned by 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.