Tidewater (NYSE:TDW) Stock Price Down 5.7% Following Analyst Downgrade

Tidewater Inc. (NYSE:TDW)’s stock price dropped 5.7% on Wednesday after Evercore ISI lowered their price target on the stock from $67.00 to $65.00. Evercore ISI currently has an in-line rating on the stock. Tidewater traded as low as $56.51 and last traded at $55.5350. Approximately 163,453 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 984,038 shares. The stock had previously closed at $58.92.

A number of other research firms have also weighed in on TDW. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a report on Wednesday, October 8th. Fearnley Fonds upgraded shares of Tidewater to a “hold” rating in a report on Tuesday, September 16th. Zacks Research downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Dnb Nor Markets lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tidewater has an average rating of “Hold” and an average target price of $68.33.

Hedge Funds Weigh In On Tidewater

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. grew its holdings in Tidewater by 401.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 413 shares during the period. Blume Capital Management Inc. boosted its position in shares of Tidewater by 128.3% during the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Tidewater by 2,321.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 650 shares during the period. Bogart Wealth LLC bought a new stake in Tidewater in the first quarter worth approximately $30,000. Finally, Parkside Financial Bank & Trust lifted its stake in Tidewater by 4,245.0% in the second quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 849 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Price Performance

The stock has a market capitalization of $2.71 billion, a P/E ratio of 14.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11. The business has a fifty day simple moving average of $53.46 and a 200-day simple moving average of $50.09.

Tidewater (NYSE:TDW) last released its earnings results on Monday, November 10th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). The company had revenue of $341.11 million for the quarter, compared to analyst estimates of $328.84 million. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 EPS. Tidewater has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater announced that its Board of Directors has approved a share repurchase plan on Monday, August 4th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the oil and gas company to repurchase up to 21.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.