Tidewater (NYSE:TDW) Reaches New 1-Year High – Time to Buy?

Tidewater Inc. (NYSE:TDW)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $71.77 and last traded at $71.6070, with a volume of 48087 shares trading hands. The stock had previously closed at $69.90.

Analysts Set New Price Targets

Several analysts recently weighed in on TDW shares. Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Finally, Evercore lowered their price objective on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Tidewater has an average rating of “Hold” and an average target price of $67.50.

Tidewater Stock Performance

The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 24.15 and a beta of 0.65. The firm’s 50-day moving average price is $58.37 and its two-hundred day moving average price is $56.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.79 and a current ratio of 2.89.

Insiders Place Their Bets

In other news, EVP Daniel A. Hudson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $70.01, for a total value of $700,100.00. Following the sale, the executive vice president directly owned 65,986 shares in the company, valued at approximately $4,619,679.86. This represents a 13.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Tidewater

Large investors have recently made changes to their positions in the company. Robotti Robert lifted its holdings in Tidewater by 3.3% during the 2nd quarter. Robotti Robert now owns 2,951,533 shares of the oil and gas company’s stock valued at $136,154,000 after purchasing an additional 94,902 shares during the last quarter. State Street Corp raised its stake in shares of Tidewater by 4.7% in the fourth quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock valued at $96,064,000 after acquiring an additional 85,697 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tidewater by 14.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,752,685 shares of the oil and gas company’s stock worth $88,529,000 after acquiring an additional 215,145 shares in the last quarter. Cerity Partners LLC grew its position in Tidewater by 104.3% during the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after acquiring an additional 583,607 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Tidewater by 74.2% during the 3rd quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock valued at $51,698,000 after purchasing an additional 412,911 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

About Tidewater

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.