Tidewater (NYSE:TDW) Reaches New 12-Month Low – Time to Sell?

Tidewater Inc. (NYSE:TDW) shares reached a new 52-week low on Thursday . The stock traded as low as $38.26 and last traded at $38.65, with a volume of 399722 shares traded. The stock had previously closed at $43.31.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TDW shares. Pickering Energy Partners cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $92.50.

Tidewater Stock Down 12.9 %

The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 11.11 and a beta of 1.06. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average of $47.99 and a two-hundred day moving average of $54.89.

Insider Activity

In related news, Director Robert Robotti acquired 25,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the purchase, the director now owns 2,208,670 shares in the company, valued at $88,589,753.70. This represents a 1.14 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tidewater

A number of institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC purchased a new stake in shares of Tidewater during the fourth quarter worth $33,000. AlphaQuest LLC raised its stake in shares of Tidewater by 177.4% during the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 511 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Tidewater during the 4th quarter valued at about $53,000. Quarry LP grew its stake in shares of Tidewater by 187.6% in the 3rd quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 531 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Tidewater by 45.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 333 shares in the last quarter. Institutional investors and hedge funds 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.