Tidewater Inc. (NYSE:TDW) Short Interest Down 15.9% in September

Tidewater Inc. (NYSE:TDW) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 4,130,000 shares, a decrease of 15.9% from the August 31st total of 4,910,000 shares. Based on an average daily volume of 839,400 shares, the short-interest ratio is presently 4.9 days.

Institutional Investors Weigh In On Tidewater

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 153 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Tidewater by 71.6% during the 4th 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. Quarry LP acquired a new position in shares of Tidewater during the 2nd quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Tidewater in the first quarter valued at approximately $28,000. Finally, Hollencrest Capital Management bought a new stake in shares of Tidewater in the second quarter valued at approximately $30,000. Institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Raymond James lifted their price objective on shares of Tidewater from $133.00 to $138.00 and gave the company 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Tidewater Stock Up 2.4 %

TDW stock opened at $71.79 on Monday. The business’s 50 day simple moving average is $84.45 and its 200 day simple moving average is $92.81. Tidewater has a 1-year low of $54.53 and a 1-year high of $111.42. The firm has a market capitalization of $3.77 billion, a PE ratio of 28.60 and a beta of 1.13. 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 released 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. The firm had revenue of $339.20 million for the quarter, compared to the consensus estimate of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The company’s quarterly revenue was up 57.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share. As a group, research analysts anticipate that Tidewater will post 4.4 EPS for the current year.

Tidewater announced that its Board of Directors has initiated a stock buyback program on Tuesday, August 6th that authorizes the company to buyback $13.90 million in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

About Tidewater

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.