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 Thursday . The company traded as high as $88.99 and last traded at $88.8440, with a volume of 24449 shares traded. The stock had previously closed at $87.84.

Wall Street Analysts Forecast Growth

TDW has been the subject of a number of recent research reports. Barclays initiated coverage on shares of Tidewater in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $80.00 price objective for the company. Raymond James Financial set a $117.00 price objective on shares of Tidewater in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Dawson James reiterated an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Finally, Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.33.

Tidewater Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 2.90 and a quick ratio of 2.78. The stock’s fifty day simple moving average is $75.80 and its 200-day simple moving average is $61.57. The company has a market capitalization of $4.38 billion, a P/E ratio of 13.25 and a beta of 0.56.

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

Insider Activity

In related news, EVP Samuel R. Rubio sold 22,461 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the sale, the executive vice president owned 60,066 shares in the company, valued at approximately $4,808,283.30. This trade represents a 27.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel A. Hudson sold 5,195 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.56, for a total transaction of $418,509.20. Following the completion of the sale, the executive vice president owned 45,971 shares of the company’s stock, valued at approximately $3,703,423.76. The trade was a 10.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 52,656 shares of company stock valued at $4,079,112. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tidewater

Hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. lifted its stake in shares of Tidewater by 401.0% in the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 413 shares during the period. Blume Capital Management Inc. lifted its stake in shares of Tidewater by 128.3% in the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 295 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Tidewater by 22.2% in the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 158 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Tidewater by 701.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 870 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Tidewater in the second quarter valued at about $47,000. 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.