Tidewater (NYSE:TDW) Downgraded by StockNews.com to "Sell"

StockNews.com lowered shares of Tidewater (NYSE:TDW - Free Report) from a hold rating to a sell rating in a research report released on Saturday morning.

Separately, Raymond James raised their price objective on Tidewater from $133.00 to $138.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $111.25.

Tidewater Trading Down 0.9 %

Shares of TDW traded down $0.57 during midday trading on Friday, hitting $61.02. The stock had a trading volume of 1,044,407 shares, compared to its average volume of 887,492. Tidewater has a fifty-two week low of $54.53 and a fifty-two week high of $111.42. The business has a 50-day simple moving average of $74.24 and a two-hundred day simple moving average of $89.18. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. The firm has a market cap of $3.22 billion, a P/E ratio of 24.31 and a beta of 1.12.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data 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 firm 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 company's quarterly revenue was up 57.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. As a group, equities analysts forecast that Tidewater will post 4.4 EPS for the current year.

Tidewater announced that its board has approved a stock buyback program 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 purchase up to 0.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Institutional Trading of Tidewater

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDW. Vanguard Group Inc. boosted its position in shares of Tidewater by 25.7% in the first quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company's stock valued at $442,956,000 after acquiring an additional 985,398 shares during the period. Boston Partners grew its position in Tidewater by 11.7% in the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company's stock worth $214,055,000 after purchasing an additional 243,489 shares during the last quarter. Hsbc Holdings PLC grew its position in Tidewater by 11,317.3% in the 2nd quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company's stock worth $60,992,000 after purchasing an additional 639,765 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Tidewater by 72.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company's stock worth $42,257,000 after purchasing an additional 185,972 shares during the period. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in shares of Tidewater during the first quarter valued at about $34,898,000. Institutional investors and hedge funds 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.