Tidewater (NYSE:TDW) Hits New 1-Year High – Should You Buy?

Tidewater Inc. (NYSE:TDW) hit a new 52-week high during trading on Tuesday . The company traded as high as $97.50 and last traded at $96.4450, with a volume of 43588 shares traded. The stock had previously closed at $93.12.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Barclays increased their price objective on shares of Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Weiss Ratings downgraded shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Finally, Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned 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 “Moderate Buy” and an average price target of $98.25.

Tidewater Trading Up 3.0%

The firm has a 50-day moving average of $79.48 and a two-hundred day moving average of $79.14. The firm has a market capitalization of $4.77 billion, a P/E ratio of 19.43 and a beta of 0.53. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47.

Tidewater (NYSE:TDW) last released its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The business had revenue of $342.29 million during the quarter, compared to the consensus estimate of $329.97 million. Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. On average, analysts anticipate that Tidewater Inc. will post 3.08 EPS for the current year.

Insider Activity

In related news, EVP Samuel R. Rubio sold 17,705 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the transaction, the executive vice president directly owned 33,214 shares in the company, valued at $3,041,073.84. This represents a 34.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Tidewater

A number of hedge funds have recently added to or reduced their stakes in TDW. Blue Trust Inc. bought a new stake in Tidewater during the 1st quarter worth $26,000. Public Employees Retirement System of Ohio bought a new stake in shares of Tidewater during the second quarter worth about $27,000. Longview Financial Advisors Inc. bought a new stake in shares of Tidewater during the first quarter worth about $54,000. Parallel Advisors LLC increased its stake in shares of Tidewater by 37.3% in the first quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 208 shares during the period. Finally, Clearstead Advisors LLC increased 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. 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.