Tidewater (NYSE:TDW) Shares Down 5% – Time to Sell?

Tidewater Inc. (NYSE:TDW) fell 5% during mid-day trading on Thursday . The stock traded as low as $70.74 and last traded at $70.1460. 117,519 shares were traded during trading, a decline of 86% from the average session volume of 811,538 shares. The stock had previously closed at $73.86.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Barclays boosted their target price on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Finally, Weiss Ratings cut shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $89.33.

Tidewater Price Performance

The stock has a 50-day moving average price of $74.52 and a two-hundred day moving average price of $72.43. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 12.30 and a beta of 0.53.

Tidewater (NYSE:TDW) last announced its earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.63). The business had revenue of $326.22 million for the quarter, compared to analyst estimates of $322.83 million. Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.83 earnings per share. As a group, equities research analysts forecast that Tidewater Inc. will post 3.52 EPS for the current year.

Hedge Funds Weigh In On Tidewater

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fulcrum Asset Management LLP raised its stake in shares of Tidewater by 226.1% during the 3rd quarter. Fulcrum Asset Management LLP now owns 33,428 shares of the oil and gas company’s stock valued at $1,783,000 after buying an additional 23,177 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Tidewater in the fourth quarter worth about $1,036,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Tidewater in the fourth quarter worth about $1,953,000. Tejara Capital Ltd grew its holdings in Tidewater by 127.6% during the fourth quarter. Tejara Capital Ltd now owns 44,600 shares of the oil and gas company’s stock worth $2,253,000 after acquiring an additional 25,000 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Tidewater by 286.0% during the third quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock worth $9,986,000 after acquiring an additional 138,739 shares during the period. 95.13% of the stock is 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.