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

Raymond James lowered shares of Tidewater (NYSE:TDW) from a strong-buy rating to an outperform rating in a report published on Monday, MarketBeat Ratings reports. Raymond James 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 upgraded 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.25.

Tidewater Trading Down 2.3 %

Shares of TDW stock opened at $53.14 on Monday. The company has a market cap of $2.78 billion, a PE ratio of 15.63 and a beta of 1.14. Tidewater has a 1 year low of $52.86 and a 1 year high of $111.42. The stock’s 50 day simple moving average is $67.03 and its two-hundred day simple moving average is $86.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

Tidewater announced that its Board of Directors has initiated a share buyback program 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 repurchase up to 0.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Tidewater

A number of large investors have recently bought and sold shares of the business. Sage Mountain Advisors LLC lifted its position in shares of Tidewater by 4.8% during the second quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 120 shares during the last quarter. GAMMA Investing LLC increased its stake in Tidewater by 135.4% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after buying an additional 153 shares during the period. Natixis Advisors LLC lifted its holdings in Tidewater by 0.7% during the 2nd quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock valued at $2,525,000 after buying an additional 174 shares in the last quarter. Xponance Inc. boosted its position in Tidewater by 9.9% in the 2nd quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock valued at $294,000 after buying an additional 279 shares during the period. Finally, Quarry LP bought a new position in Tidewater in the 2nd quarter worth about $27,000. Hedge funds and other institutional investors 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.