Tidewater (NYSE:TDW) Shares Gap Up to $71.48

Tidewater Inc. (NYSE:TDW) gapped up before the market opened on Monday . The stock had previously closed at $71.48, but opened at $73.19. Tidewater shares last traded at $73.44, with a volume of 38,714 shares changing hands.

Wall Street Analysts Forecast Growth

TDW has been the topic of a number of analyst reports. StockNews.com lowered shares of Tidewater from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Raymond James increased their price objective on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $111.25.

Tidewater Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. The firm’s fifty day moving average is $89.51 and its two-hundred day moving average is $93.25. The firm has a market capitalization of $3.84 billion, a PE ratio of 28.48 and a beta of 1.13.

Tidewater (NYSE:TDW) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.22. The firm had revenue of $339.20 million for the quarter, compared to the consensus estimate of $331.85 million. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The company’s revenue was up 57.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 EPS. On average, equities analysts predict that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

Tidewater announced that its board has initiated a share repurchase program on Tuesday, August 6th that authorizes the company to buyback $13.90 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 0.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Tidewater

A number of hedge funds have recently modified their holdings of the stock. Sage Mountain Advisors LLC boosted its position in 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 period. GAMMA Investing LLC boosted its holdings 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. PNC Financial Services Group Inc. grew its stake in Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 156 shares in the last quarter. Natixis Advisors LLC raised 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 acquiring an additional 174 shares during the period. Finally, Precision Wealth Strategies LLC lifted its position in shares of Tidewater by 8.5% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 264 shares in the last quarter. 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.