Tidewater’s (TDW) “Hold (C)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c) rating on shares of Tidewater (NYSE:TDW) in a report issued on Friday,Weiss Ratings reports.

Several other research firms have also commented on TDW. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Evercore ISI upped their target price on Tidewater from $60.00 to $67.00 and gave the company an “in-line” rating in a research report on Wednesday, August 6th. Fearnley Fonds raised Tidewater to a “hold” rating in a research report on Tuesday, September 16th. Dnb Nor Markets lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, BTIG Research downgraded Tidewater from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $69.00.

Tidewater Stock Performance

NYSE TDW opened at $49.33 on Friday. The firm has a market capitalization of $2.44 billion, a P/E ratio of 12.78 and a beta of 1.05. Tidewater has a 1-year low of $31.17 and a 1-year high of $65.76. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.11 and a quick ratio of 2.04. The business’s 50-day simple moving average is $55.28 and its 200-day simple moving average is $48.49.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.95. The business had revenue of $341.43 million for the quarter, compared to analyst estimates of $317.28 million. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The company’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. Tidewater has set its FY 2025 guidance at EPS. Equities analysts predict that Tidewater will post 3.25 EPS for the current year.

Tidewater declared that its Board of Directors has approved a share buyback program on Monday, August 4th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 21.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Daniel A. Hudson sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $57.56, for a total transaction of $575,600.00. Following the completion of the transaction, the executive vice president directly owned 75,986 shares in the company, valued at $4,373,754.16. This represents a 11.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC boosted its position in Tidewater by 28.6% during the 2nd quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 200 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Tidewater by 4.5% in the second quarter. Ameritas Investment Partners Inc. now owns 5,165 shares of the oil and gas company’s stock valued at $238,000 after buying an additional 224 shares during the period. Covestor Ltd lifted its holdings in shares of Tidewater by 14.1% in the first quarter. Covestor Ltd now owns 2,075 shares of the oil and gas company’s stock valued at $88,000 after buying an additional 256 shares during the period. Altfest L J & Co. Inc. lifted its holdings in shares of Tidewater by 2.0% in the third quarter. Altfest L J & Co. Inc. now owns 13,568 shares of the oil and gas company’s stock valued at $724,000 after buying an additional 272 shares during the period. Finally, Lido Advisors LLC lifted its holdings in shares of Tidewater by 5.6% in the second quarter. Lido Advisors LLC now owns 5,152 shares of the oil and gas company’s stock valued at $238,000 after buying an additional 275 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.