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

StockNews.com upgraded shares of Tidewater (NYSE:TDW) from a sell rating to a hold rating in a report issued on Thursday morning.

Separately, Raymond James lifted their price objective on 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $111.25.

Tidewater Stock Performance

NYSE TDW opened at $56.07 on Thursday. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 16.49 and a beta of 1.14. 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 twelve month low of $54.53 and a twelve month high of $111.42. The stock has a fifty day simple moving average of $68.76 and a 200 day simple moving average of $86.87.

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

Hedge Funds Weigh In On Tidewater

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of Tidewater by 135.4% during the 2nd 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 during the period. Quarry LP bought a new position in shares of Tidewater during the 2nd quarter worth about $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Tidewater in the 1st quarter valued at about $28,000. Hollencrest Capital Management bought a new stake in Tidewater in the 2nd quarter valued at about $30,000. Finally, Headlands Technologies LLC raised its stake in Tidewater by 6,322.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,138 shares during the period. 95.13% of the stock is currently owned by institutional investors.

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.