Tidewater (NYSE:TDW) Stock Price Down 4.5%

Tidewater Inc. (NYSE:TDW) shares were down 4.5% during trading on Wednesday . The stock traded as low as $73.83 and last traded at $73.91. Approximately 171,448 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 859,550 shares. The stock had previously closed at $77.38.

Analyst Upgrades and Downgrades

Several brokerages have commented on TDW. StockNews.com cut shares of Tidewater from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Raymond James boosted their price objective on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tidewater currently has an average rating of “Moderate Buy” and a consensus target price of $111.25.

Tidewater Trading Down 4.6 %

The firm has a market capitalization of $3.88 billion, a PE ratio of 29.14 and a beta of 1.13. The firm’s fifty day moving average is $86.28 and its two-hundred day moving average is $93.05. 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 (NYSE:TDW) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.22. The business had revenue of $339.20 million for the quarter, compared to analysts’ expectations of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 57.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. On average, equities analysts predict that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

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

Institutional Trading of Tidewater

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of Tidewater by 135.4% during the second 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 during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Tidewater by 71.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 156 shares during the period. Quarry LP purchased a new stake in shares of Tidewater during the second quarter valued at $27,000. Transcendent Capital Group LLC purchased a new stake in shares of Tidewater during the first quarter valued at $28,000. Finally, Hollencrest Capital Management purchased a new stake in shares of Tidewater during the second quarter valued at $30,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.