Tidewater (NYSE:TDW) Stock Price Down 5.2% – Time to Sell?

Tidewater Inc. (NYSE:TDW)’s share price traded down 5.2% on Wednesday . The stock traded as low as $83.01 and last traded at $83.14. 642,074 shares changed 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 research analysts recently commented on the company. Dawson James reissued an “outperform” rating on shares of Tidewater in a report on Tuesday. Evercore decreased their price target on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a research report on Wednesday, November 12th. Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Raymond James Financial set a $117.00 price objective on shares of Tidewater in a research note on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $91.00.

Tidewater Stock Down 5.4%

The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79. The stock’s fifty day simple moving average is $63.25 and its 200-day simple moving average is $57.71. The stock has a market cap of $4.11 billion, a P/E ratio of 12.41 and a beta of 0.57.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $3.64. Tidewater had a return on equity of 12.98% and a net margin of 24.74%.The business had revenue of $336.80 million for the quarter, compared to the consensus estimate of $329.39 million. During the same quarter last year, the business posted $0.70 EPS. The business’s revenue was down 2.4% on a year-over-year basis. On average, research analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

Insider Activity at Tidewater

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 sale, the executive vice president owned 50,986 shares of the company’s stock, valued at $3,951,415. This trade represents a 22.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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. Federated Hermes Inc. bought a new stake in shares of Tidewater during the second quarter valued at approximately $28,199,000. Cerity Partners LLC raised its stake 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 valued at $57,730,000 after acquiring an additional 583,607 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in Tidewater during the 4th quarter valued at $21,922,000. American Century Companies Inc. boosted its position in Tidewater by 291.8% during the 2nd quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company’s stock worth $25,670,000 after acquiring an additional 414,454 shares during the period. Finally, Boston Partners grew its stake in shares of Tidewater by 1,118.5% in the second quarter. Boston Partners now owns 283,676 shares of the oil and gas company’s stock worth $14,089,000 after purchasing an additional 260,395 shares in the last quarter. Institutional investors and hedge funds 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.