Tidewater (NYSE:TDW) Stock Rating Lowered by Raymond James

Raymond James downgraded shares of Tidewater (NYSE:TDW - Free Report) from a strong-buy rating to an outperform rating in a report issued on Monday morning, Marketbeat.com reports. The brokerage currently has $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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $102.25.

Tidewater Stock Down 3.7 %

NYSE:TDW traded down $2.08 during trading hours on Monday, reaching $53.99. The company's stock had a trading volume of 1,211,257 shares, compared to its average volume of 902,902. The stock has a 50 day moving average price of $68.76 and a two-hundred day moving average price of $86.87. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 1.90. The company has a market capitalization of $2.83 billion, a P/E ratio of 16.49 and a beta of 1.14. Tidewater has a 12 month low of $53.73 and a 12 month high of $111.42.

Tidewater announced that its Board of Directors has approved a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $13.90 million in shares. This buyback authorization allows the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 153 shares in the last quarter. Quarry LP acquired a new stake in shares of Tidewater during the second quarter worth about $27,000. Transcendent Capital Group LLC purchased a new stake in Tidewater in the first quarter valued at approximately $28,000. Hollencrest Capital Management acquired a new position in Tidewater in the 2nd quarter worth approximately $30,000. Finally, Headlands Technologies LLC raised its holdings in shares of Tidewater by 6,322.2% during the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company's stock worth $110,000 after purchasing an additional 1,138 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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.