Tidewater (NYSE:TDW) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Tidewater (NYSE:TDW) from a sell rating to a hold rating in a research note published on Thursday morning.

Separately, Raymond James lifted their price objective 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 research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $111.25.

Tidewater Trading Down 11.6 %

TDW stock traded down $7.47 on Thursday, reaching $56.68. The company’s stock had a trading volume of 2,080,290 shares, compared to its average volume of 895,413. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 1.90. The business has a fifty day simple moving average of $69.41 and a two-hundred day simple moving average of $87.19. The firm has a market cap of $2.98 billion, a PE ratio of 18.80 and a beta of 1.14. Tidewater has a 12-month low of $54.53 and a 12-month high of $111.42.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.72 by $0.22. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The business had revenue of $339.20 million during the quarter, compared to analyst estimates of $331.85 million. During the same quarter last year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was up 57.8% on a year-over-year basis. As a group, research analysts forecast that Tidewater will post 4.4 EPS for the current year.

Tidewater declared that its Board of Directors has authorized a stock buyback 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 buy up to 0.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in Tidewater by 135.4% in the 2nd 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. Quarry LP bought a new position in shares of Tidewater in the second quarter worth about $27,000. Transcendent Capital Group LLC purchased a new position in shares of Tidewater during the 1st quarter valued at about $28,000. Hollencrest Capital Management bought a new position in shares of Tidewater during the 2nd quarter valued at approximately $30,000. Finally, Headlands Technologies LLC increased its holdings in Tidewater by 6,322.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 1,138 shares in the last quarter. 95.13% of the stock is currently 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.