Tidewater (NYSE:TDW) Cut to “Outperform” at Raymond James

Raymond James cut shares of Tidewater (NYSE:TDW) from a strong-buy rating to an outperform rating in a research report report published on Monday, MarketBeat reports. The firm currently has $102.00 price target on the oil and gas company’s stock, down from their prior price target of $131.00.

Separately, StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tidewater has a consensus rating of “Moderate Buy” and an average price target of $102.25.

Tidewater Stock Performance

Shares of NYSE:TDW opened at $53.19 on Monday. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 15.64 and a beta of 1.14. The firm has a 50 day moving average of $66.53 and a 200 day moving average of $85.85. Tidewater has a 52 week low of $52.61 and a 52 week high of $111.42.

Tidewater declared that its Board of Directors has authorized a share repurchase 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Tidewater

Large investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC purchased a new position in Tidewater during the first quarter worth about $325,000. Sei Investments Co. lifted its holdings in Tidewater by 106.8% in the first quarter. Sei Investments Co. now owns 13,987 shares of the oil and gas company’s stock valued at $1,287,000 after acquiring an additional 7,225 shares during the last quarter. Inspire Advisors LLC purchased a new position in Tidewater in the first quarter worth approximately $246,000. Russell Investments Group Ltd. grew its position in Tidewater by 17.3% in the first quarter. Russell Investments Group Ltd. now owns 86,750 shares of the oil and gas company’s stock worth $7,981,000 after acquiring an additional 12,799 shares during the period. Finally, ProShare Advisors LLC increased its stake in Tidewater by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,349 shares of the oil and gas company’s stock worth $768,000 after acquiring an additional 656 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

About Tidewater

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.