DNB Markets Initiates Coverage on Tidewater (NYSE:TDW)

DNB Markets began coverage on shares of Tidewater (NYSE:TDW) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $70.00 target price on the oil and gas company’s stock.

A number of other analysts have also recently commented on TDW. Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Tidewater has a consensus rating of “Moderate Buy” and a consensus price target of $95.80.

Tidewater Price Performance

Shares of NYSE TDW opened at $51.72 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The firm has a fifty day moving average of $61.75 and a 200 day moving average of $81.82. The firm has a market cap of $2.71 billion, a PE ratio of 15.21 and a beta of 1.14. Tidewater has a one year low of $49.83 and a one year high of $111.42.

Tidewater declared that its board 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 repurchase up to 0.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TDW. Sage Mountain Advisors LLC grew its position 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 purchasing an additional 120 shares in the last quarter. GAMMA Investing LLC grew 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 valued at $25,000 after buying an additional 153 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Tidewater by 0.7% during the 2nd quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock worth $2,525,000 after acquiring an additional 174 shares during the period. Tidal Investments LLC boosted its position in shares of Tidewater by 8.1% during the 3rd quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 267 shares during the last quarter. Finally, Xponance Inc. boosted its position in shares of Tidewater by 9.9% during the 2nd quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock valued at $294,000 after acquiring an additional 279 shares during the last quarter. 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.