Tidewater (NYSE:TDW) Lowered to Outperform Rating by Raymond James

Raymond James cut shares of Tidewater (NYSE:TDW) from a strong-buy rating to an outperform rating in a research note published on Monday morning, Marketbeat reports. They currently have $102.00 target price on the oil and gas company’s stock, down from their previous target price of $131.00.

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

Tidewater Stock Up 0.2 %

Shares of TDW opened at $53.19 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The stock has a market capitalization of $2.78 billion, a PE ratio of 15.64 and a beta of 1.14. The company’s 50-day simple moving average is $66.53 and its 200-day simple moving average is $85.85. Tidewater has a 1 year low of $52.61 and a 1 year high of $111.42.

Tidewater announced that its board has approved a share repurchase plan on Tuesday, August 6th that allows the company to repurchase $13.90 million in shares. This repurchase authorization allows the oil and gas company to buy up to 0.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TDW. GAMMA Investing LLC grew its position 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 valued at $25,000 after purchasing an additional 153 shares during the last quarter. Quarry LP acquired a new stake in Tidewater during the 2nd quarter valued at $27,000. Transcendent Capital Group LLC purchased a new position in Tidewater during the first quarter worth $28,000. Hollencrest Capital Management acquired a new position in shares of Tidewater in the second quarter worth $30,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of Tidewater in the third quarter valued at $65,000. 95.13% of the stock is owned by hedge funds and other 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.