Tidewater (NYSE:TDW) Reaches New 1-Year High – What’s Next?

Tidewater Inc. (NYSE:TDW)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $89.75 and last traded at $89.8130, with a volume of 5350 shares. The stock had previously closed at $88.52.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Raymond James Financial set a $117.00 target price on Tidewater in a research report on Tuesday, March 3rd. Barclays assumed coverage on Tidewater in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $80.00 price target for the company. Zacks Research raised Tidewater from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Finally, Dawson James restated an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $87.33.

Tidewater Trading Down 4.8%

The stock has a market cap of $4.30 billion, a PE ratio of 12.99 and a beta of 0.56. The company’s fifty day moving average is $81.17 and its 200-day moving average is $64.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.90 and a quick ratio of 2.78.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, beating the consensus estimate of $0.77 by $3.64. The company had revenue of $336.80 million for the quarter, compared to analyst estimates of $329.39 million. Tidewater had a net margin of 24.74% and a return on equity of 12.34%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. On average, analysts predict that Tidewater Inc. will post 4.04 earnings per share for the current fiscal year.

Insider Activity

In other Tidewater news, EVP Samuel R. Rubio sold 22,461 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total value of $1,798,003.05. Following the sale, the executive vice president owned 60,066 shares in the company, valued at approximately $4,808,283.30. This represents a 27.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Daniel A. Hudson sold 5,195 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $80.56, for a total transaction of $418,509.20. Following the sale, the executive vice president directly owned 45,971 shares in the company, valued at $3,703,423.76. The trade was a 10.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 52,656 shares of company stock worth $4,079,112. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tidewater

Several large investors have recently made changes to their positions in TDW. Blue Trust Inc. acquired a new stake in Tidewater during the first quarter valued at $26,000. Hantz Financial Services Inc. raised its position 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 worth $28,000 after acquiring an additional 413 shares during the period. Blume Capital Management Inc. boosted its stake in shares of Tidewater by 128.3% during the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 295 shares in the last quarter. Longview Financial Advisors Inc. purchased a new stake in shares of Tidewater during the 1st quarter worth about $54,000. Finally, Clearstead Advisors LLC grew its position in shares of Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 158 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.