Tidewater (NYSE:TDW) Rating Increased to Hold at StockNews.com

Tidewater (NYSE:TDW) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Raymond James boosted their price target 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 investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tidewater presently has a consensus rating of “Buy” and an average price target of $111.25.

Tidewater Stock Down 1.0 %

Shares of NYSE TDW opened at $71.25 on Friday. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 28.38 and a beta of 1.12. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. Tidewater has a 52-week low of $54.53 and a 52-week high of $111.42. The business’s 50 day moving average is $81.51 and its two-hundred day moving average is $92.21.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 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 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Research analysts predict that Tidewater will post 4.4 EPS for the current year.

Tidewater declared that its Board of Directors has approved a share repurchase program on Tuesday, August 6th that permits the company to buyback $13.90 million in shares. This buyback authorization permits the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Tidewater

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted 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 valued at $25,000 after acquiring an additional 153 shares in the last quarter. 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 in the last quarter. Quarry LP acquired a new position in Tidewater in the second quarter valued at $27,000. Transcendent Capital Group LLC acquired a new position in Tidewater in the first quarter valued at $28,000. Finally, Hollencrest Capital Management acquired a new position in Tidewater in the second quarter valued at $30,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

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.