Tidewater (NYSE:TDW) Upgraded at StockNews.com

StockNews.com upgraded shares of Tidewater (NYSE:TDW) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

Separately, Raymond James raised their price target 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 equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $111.25.

Tidewater Stock Down 12.6 %

NYSE TDW opened at $56.07 on Thursday. The business has a fifty day moving average price of $68.76 and a 200 day moving average price of $86.91. 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 cap of $2.94 billion, a P/E ratio of 16.49 and a beta of 1.14. Tidewater has a one year low of $54.53 and a one year high of $111.42.

Tidewater declared that its board has approved a stock repurchase 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 buy up to 0.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Tidewater by 135.4% during the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 153 shares during the period. Quarry LP acquired a new stake in shares of Tidewater during the 2nd quarter worth approximately $27,000. Transcendent Capital Group LLC purchased a new stake in shares of Tidewater during the 1st quarter valued at approximately $28,000. Hollencrest Capital Management acquired a new position in Tidewater in the second quarter valued at approximately $30,000. Finally, Headlands Technologies LLC grew its position in Tidewater by 6,322.2% in the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 1,138 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.