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

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

Separately, Raymond James raised their target price on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $111.25.

Tidewater Stock Performance

Shares of NYSE TDW opened at $61.02 on Friday. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 24.31 and a beta of 1.12. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $74.24 and a 200 day simple moving average of $89.24. Tidewater has a one year low of $54.53 and a one year high of $111.42.

Tidewater (NYSE:TDW) last posted its earnings results 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. The business had revenue of $339.20 million for the quarter, compared to analysts’ expectations of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 57.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Sell-side analysts expect that Tidewater will post 4.4 EPS for the current year.

Tidewater declared that its Board of Directors has approved a stock repurchase program on Tuesday, August 6th that allows the company to repurchase $13.90 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Tidewater

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 153 shares during the last quarter. Quarry LP acquired a new stake in shares of Tidewater during the 2nd quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new stake in shares of Tidewater during the first quarter worth approximately $28,000. Hollencrest Capital Management acquired a new position in Tidewater in the second quarter valued at approximately $30,000. Finally, PNC Financial Services Group Inc. boosted its stake 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 last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

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.