Tidewater (NYSE:TDW) Stock Rating Lowered by StockNews.com

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

Separately, Raymond James lifted their price objective on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.25.

Tidewater Stock Performance

Shares of TDW stock opened at $61.02 on Friday. The stock has a market cap of $3.22 billion, a PE ratio of 24.31 and a beta of 1.12. The stock has a 50-day moving average of $74.24 and a 200-day moving average of $89.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. Tidewater has a one year low of $54.53 and a one year high of $111.42.

Tidewater (NYSE:TDW) last issued its earnings results 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 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 business’s quarterly revenue was up 57.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 earnings per share. As a group, sell-side analysts expect that Tidewater will post 4.4 earnings per share for the current year.

Tidewater announced that its board has initiated a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $13.90 million in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 0.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Tidewater

A number of institutional investors have recently modified their holdings of TDW. Vanguard Group Inc. grew its position in Tidewater by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 3,829,340 shares of the oil and gas company’s stock valued at $276,134,000 after purchasing an additional 30,740 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Tidewater by 71.6% in the 4th 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. Principal Financial Group Inc. increased its position in shares of Tidewater by 244.3% in the first quarter. Principal Financial Group Inc. now owns 38,413 shares of the oil and gas company’s stock valued at $3,534,000 after acquiring an additional 27,257 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Tidewater by 22.5% during the first quarter. BNP Paribas Financial Markets now owns 38,597 shares of the oil and gas company’s stock worth $3,551,000 after acquiring an additional 7,087 shares in the last quarter. Finally, Hosking Partners LLP raised its holdings in Tidewater by 0.6% during the first quarter. Hosking Partners LLP now owns 283,350 shares of the oil and gas company’s stock worth $26,068,000 after acquiring an additional 1,591 shares in the last quarter. 95.13% of the stock is currently owned by 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.