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

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

Separately, Raymond James boosted their target price 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 investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Tidewater Stock Up 0.4 %

Tidewater stock traded up $0.23 during mid-day trading on Wednesday, hitting $63.42. The company had a trading volume of 1,198,065 shares, 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 stock’s 50 day moving average price is $77.63 and its two-hundred day moving average price 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 issued its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.22. The business had revenue of $339.20 million during 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 business’s revenue for the quarter was up 57.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Tidewater will post 4.4 earnings per share for the current fiscal year.

Tidewater declared that its Board of Directors has initiated a share buyback plan 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 purchase up to 0.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Tidewater

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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 buying an additional 153 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of 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 acquiring an additional 156 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 stake in shares of Tidewater during the first quarter worth about $28,000. Finally, Hollencrest Capital Management bought a new stake in Tidewater during the 2nd quarter valued at approximately $30,000. 95.13% of the stock is owned by hedge funds and other 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.