Tidewater (NYSE:TDW) Trading Down 5.2% – Should You Sell?

Tidewater Inc. (NYSE:TDW) traded down 5.2% during mid-day trading on Wednesday . The stock traded as low as $83.01 and last traded at $83.14. 642,074 shares traded hands during trading, a decline of 19% from the average session volume of 790,181 shares. The stock had previously closed at $87.67.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Evercore decreased their price target on Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 12th. Dawson James reissued an “outperform” rating on shares of Tidewater in a research note on Tuesday. Raymond James Financial set a $117.00 target price on shares of Tidewater in a report on Tuesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tidewater presently has an average rating of “Hold” and a consensus target price of $91.00.

Tidewater Trading Down 3.2%

The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.79 and a current ratio of 2.90. The stock has a market capitalization of $3.85 billion, a P/E ratio of 11.64 and a beta of 0.57. The stock has a 50-day moving average price of $64.50 and a two-hundred day moving average price of $58.04.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $3.64. The company had revenue of $336.80 million during the quarter, compared to analyst estimates of $329.39 million. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 earnings per share. On average, research analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insider Activity

In related news, EVP Daniel A. Hudson sold 15,000 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $77.50, for a total value of $1,162,500.00. Following the completion of the transaction, the executive vice president directly owned 50,986 shares of the company’s stock, valued at $3,951,415. This represents a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TDW. Royal Bank of Canada lifted its stake in shares of Tidewater by 22.6% in the first quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock worth $980,000 after buying an additional 4,278 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Tidewater by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock valued at $1,227,000 after acquiring an additional 1,271 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Tidewater by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock valued at $1,895,000 after purchasing an additional 1,931 shares during the last quarter. CWM LLC increased its holdings in shares of Tidewater by 83.6% in the 2nd quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 422 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of 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 worth $40,000 after purchasing an additional 849 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Company Profile

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.