DNB Markets Begins Coverage on Tidewater (NYSE:TDW)

Analysts at DNB Markets assumed coverage on shares of Tidewater (NYSE:TDW) in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $70.00 price target on the oil and gas company’s stock. DNB Markets’ price objective would indicate a potential upside of 39.25% from the stock’s previous close.

Several other equities analysts have also issued reports on TDW. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $131.00 to $102.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Tidewater presently has a consensus rating of “Moderate Buy” and an average target price of $95.80.

Tidewater Stock Up 0.2 %

NYSE:TDW opened at $50.27 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater has a 12-month low of $49.83 and a 12-month high of $111.42. The stock’s fifty day simple moving average is $62.73 and its 200-day simple moving average is $82.58. The firm has a market capitalization of $2.63 billion, a P/E ratio of 14.79 and a beta of 1.14.

Tidewater announced that its board has initiated a share repurchase 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 an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp bought a new stake in shares of Tidewater during the third quarter worth $51,089,000. Hsbc Holdings PLC increased its holdings in Tidewater by 11,317.3% during 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 in the last quarter. Cerity Partners LLC raised its stake in shares of Tidewater by 173.4% in the 3rd quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock valued at $43,666,000 after purchasing an additional 385,779 shares during the period. Villere ST Denis J & Co. LLC bought a new stake in shares of Tidewater in the third quarter valued at about $25,871,000. Finally, Principal Financial Group Inc. boosted its position in shares of Tidewater by 622.0% during the second quarter. Principal Financial Group Inc. now owns 277,346 shares of the oil and gas company’s stock worth $26,406,000 after buying an additional 238,933 shares during the period. 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.