Tidewater (NYSE:TDW) Now Covered by DNB Markets

DNB Markets started coverage on shares of Tidewater (NYSE:TDW - Get Free Report) in a report released on Friday, MarketBeat reports. The brokerage set a "buy" rating and a $70.00 price target on the oil and gas company's stock. DNB Markets' target price points to a potential upside of 35.34% from the stock's previous close.

Several other analysts have also recently commented on the company. StockNews.com upgraded Tidewater from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. Raymond James cut Tidewater from a "strong-buy" rating to an "outperform" rating and decreased their price target for the company from $131.00 to $102.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Tidewater currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.80.

Tidewater Stock Performance

Shares of TDW traded up $1.45 during mid-day trading on Friday, hitting $51.72. The company's stock had a trading volume of 427,672 shares, compared to its average volume of 906,005. Tidewater has a one year low of $49.83 and a one year high of $111.42. 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 firm has a market capitalization of $2.71 billion, a PE ratio of 14.79 and a beta of 1.14. The stock's 50-day moving average is $62.23 and its two-hundred day moving average is $82.35.

Tidewater declared that its board has authorized a stock buyback program on Tuesday, August 6th that authorizes the company to buyback $13.90 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 0.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC boosted its stake in shares of Tidewater by 8.1% during the 3rd quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company's stock worth $257,000 after acquiring an additional 267 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Tidewater by 30.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company's stock worth $1,220,000 after acquiring an additional 3,969 shares during the period. Neo Ivy Capital Management boosted its stake in shares of Tidewater by 22.5% during the 3rd quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company's stock worth $994,000 after acquiring an additional 2,544 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tidewater by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company's stock worth $78,473,000 after acquiring an additional 5,713 shares during the period. Finally, Barclays PLC boosted its stake in shares of Tidewater by 354.2% during the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock worth $5,661,000 after acquiring an additional 61,487 shares during the period. Institutional investors and hedge funds 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.