Tidewater (NYSE:TDW) Sets New 12-Month High – Time to Buy?

Tidewater Inc. (NYSE:TDW)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $64.30 and last traded at $63.87, with a volume of 97767 shares traded. The stock had previously closed at $61.69.

Analysts Set New Price Targets

Several brokerages recently issued reports on TDW. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Evercore ISI dropped their price target on Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 12th. Dnb Nor Markets lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $67.50.

Tidewater Trading Up 2.6%

The company has a current ratio of 2.89, a quick ratio of 2.79 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $3.10 billion, a P/E ratio of 21.05 and a beta of 0.63. The company has a 50-day moving average price of $55.07 and a 200 day moving average price of $54.50.

Tidewater (NYSE:TDW) last announced its earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The firm had revenue of $341.11 million during the quarter, compared to the consensus estimate of $328.84 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TDW. Bogart Wealth LLC grew its stake in shares of Tidewater by 28.6% during the second 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 last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Tidewater by 23.5% during the third quarter. Parkside Financial Bank & Trust now owns 1,073 shares of the oil and gas company’s stock worth $57,000 after buying an additional 204 shares during the period. Lido Advisors LLC grew its holdings in shares of Tidewater by 4.0% during the third quarter. Lido Advisors LLC now owns 5,360 shares of the oil and gas company’s stock valued at $286,000 after buying an additional 208 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Tidewater by 4.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,165 shares of the oil and gas company’s stock valued at $238,000 after acquiring an additional 224 shares during the period. Finally, Altfest L J & Co. Inc. raised its stake in Tidewater by 2.0% in the 3rd quarter. Altfest L J & Co. Inc. now owns 13,568 shares of the oil and gas company’s stock worth $724,000 after acquiring an additional 272 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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.