Tidewater (NYSE:TDW) Sets New 52-Week Low – Should You Sell?

Shares of Tidewater Inc. (NYSE:TDW) hit a new 52-week low on Monday . The stock traded as low as $54.40 and last traded at $54.69, with a volume of 91194 shares traded. The stock had previously closed at $56.07.

Analyst Ratings Changes

Several equities analysts have recently commented on TDW shares. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $131.00 to $102.00 in a report on Monday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.25.

Tidewater Stock Down 1.2 %

The company has a market cap of $2.85 billion, a PE ratio of 16.00 and a beta of 1.14. The business has a 50-day simple moving average of $67.56 and a 200-day simple moving average of $86.31. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

Tidewater declared that its board has authorized a share repurchase program on Tuesday, August 6th that allows the company to buyback $13.90 million in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Tidewater

A number of hedge funds have recently modified their holdings of TDW. GAMMA Investing LLC grew its holdings in shares of Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 153 shares during the period. Quarry LP acquired a new stake in shares of Tidewater during the second quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new stake in shares of Tidewater in the 1st quarter valued at approximately $28,000. Hollencrest Capital Management purchased a new position in shares of Tidewater during the 2nd quarter worth approximately $30,000. Finally, Headlands Technologies LLC increased its holdings in Tidewater by 6,322.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,138 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.