Tidewater Inc. (NYSE:TDW) Given Average Rating of “Buy” by Brokerages

Tidewater Inc. (NYSE:TDW) has been given an average rating of “Buy” by the five analysts that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $111.25.

TDW has been the topic of a number of research reports. StockNews.com lowered shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Saturday. Raymond James raised their price target on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 8th.

Institutional Investors Weigh In On Tidewater

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sage Mountain Advisors LLC raised its holdings in shares of Tidewater by 4.8% in the second quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock valued at $251,000 after buying an additional 120 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 buying an additional 153 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings 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 valued at $27,000 after buying an additional 156 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Tidewater by 0.7% in the second quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock valued at $2,525,000 after buying an additional 174 shares during the last quarter. Finally, Xponance Inc. increased its stake in shares of Tidewater by 9.9% during the second quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock worth $294,000 after acquiring an additional 279 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Trading Down 0.9 %

Shares of Tidewater stock opened at $61.02 on Tuesday. The firm has a market capitalization of $3.22 billion, a PE ratio of 24.31 and a beta of 1.12. Tidewater has a twelve month low of $54.53 and a twelve month high of $111.42. The firm’s 50-day moving average price is $74.24 and its 200 day moving average price is $89.18. 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 earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The business had revenue of $339.20 million for the quarter, compared to analyst estimates of $331.85 million. During the same period last year, the company posted $0.46 EPS. The business’s revenue was up 57.8% on a year-over-year basis. On average, sell-side analysts predict that Tidewater will post 4.4 EPS for the current fiscal year.

Tidewater announced that its board has initiated a stock buyback 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 repurchase up to 0.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.