Tidewater (NYSE:TDW) Hits New 52-Week High – Here’s Why

Tidewater Inc. (NYSE:TDW)’s stock price reached a new 52-week high on Monday . The stock traded as high as $68.23 and last traded at $67.0720, with a volume of 37904 shares traded. The stock had previously closed at $66.35.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TDW. Dnb Nor Markets downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Evercore reduced 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. Finally, Zacks Research upgraded 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 issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $67.50.

Tidewater Stock Performance

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 firm’s fifty day moving average price is $56.70 and its two-hundred day moving average price is $55.31. The stock has a market capitalization of $3.33 billion, a PE ratio of 22.51 and a beta of 0.64.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC boosted its position in shares of Tidewater by 28.6% during the 2nd quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 200 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Tidewater by 1.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,579 shares of the oil and gas company’s stock valued at $534,000 after purchasing an additional 200 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Tidewater by 23.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,073 shares of the oil and gas company’s stock valued at $57,000 after buying an additional 204 shares during the period. Lido Advisors LLC increased its holdings in shares of Tidewater by 4.0% during the 3rd quarter. Lido Advisors LLC now owns 5,360 shares of the oil and gas company’s stock worth $286,000 after buying an additional 208 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in shares of Tidewater by 4.5% during 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 buying an additional 224 shares during the period. Hedge funds and other 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.