Tidewater Inc. (NYSE:TDW) Receives Average Rating of “Buy” from Analysts

Shares of Tidewater Inc. (NYSE:TDW) have been assigned an average recommendation of “Buy” from the five brokerages that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $102.25.

A number of research firms recently weighed in on TDW. Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $131.00 to $102.00 in a research report on Monday, November 11th. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th.

Institutional Investors Weigh In On Tidewater

A number of hedge funds have recently added to or reduced their stakes in TDW. GAMMA Investing LLC boosted 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 worth $25,000 after buying an additional 153 shares during the last quarter. Quarry LP purchased a new position in Tidewater during the second quarter valued at $27,000. Transcendent Capital Group LLC purchased a new stake in Tidewater in the first quarter worth about $28,000. Hollencrest Capital Management bought a new position in shares of Tidewater in the second quarter worth about $30,000. Finally, Northwest & Ethical Investments L.P. bought a new position in shares of Tidewater during the 3rd quarter valued at approximately $65,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Price Performance

TDW opened at $50.73 on Friday. Tidewater has a 12-month low of $50.69 and a 12-month high of $111.42. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 14.92 and a beta of 1.14. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $66.06 and a two-hundred day simple moving average of $85.53.

Tidewater announced that its Board of Directors has approved a share repurchase program on Tuesday, August 6th that authorizes the company to repurchase $13.90 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is 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.