Tidewater Inc. (NYSE:TDW) Given Average Rating of “Buy” by Brokerages

Shares of Tidewater Inc. (NYSE:TDW) have been assigned a consensus rating of “Buy” from the five analysts that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $102.25.

Several research firms have recently commented on TDW. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $131.00 to $102.00 in a report on Monday, November 11th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th.

Tidewater Stock Down 4.6 %

Shares of TDW opened at $50.73 on Friday. Tidewater has a 12-month low of $50.69 and a 12-month high of $111.42. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.65 billion, a PE ratio of 14.92 and a beta of 1.14. The business’s 50 day moving average is $66.06 and its 200 day moving average is $85.53.

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

Institutional Investors Weigh In On Tidewater

Several institutional investors have recently modified their holdings of the stock. CreativeOne Wealth LLC bought a new position in Tidewater during the 1st quarter valued at about $542,000. Russell Investments Group Ltd. boosted its holdings in Tidewater by 17.3% during the 1st quarter. Russell Investments Group Ltd. now owns 86,750 shares of the oil and gas company’s stock valued at $7,981,000 after acquiring an additional 12,799 shares during the period. Lord Abbett & CO. LLC bought a new position in Tidewater in the 1st quarter valued at $5,658,000. Sei Investments Co. lifted its position in shares of Tidewater by 106.8% during the first quarter. Sei Investments Co. now owns 13,987 shares of the oil and gas company’s stock worth $1,287,000 after purchasing an additional 7,225 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Tidewater during the second quarter valued at $1,241,000. 95.13% of the stock is owned by 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.