Tidewater (NYSE:TDW) Reaches New 52-Week High – Should You Buy?

Tidewater Inc. (NYSE:TDW) shares reached a new 52-week high on Friday . The stock traded as high as $93.23 and last traded at $93.6340, with a volume of 17531 shares traded. The stock had previously closed at $91.52.

Wall Street Analysts Forecast Growth

TDW has been the topic of a number of recent analyst reports. Barclays boosted their target price on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Zacks Research downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings lowered shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Finally, Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Tidewater has an average rating of “Hold” and a consensus target price of $91.00.

Tidewater Stock Performance

The firm’s 50 day simple moving average is $74.09 and its 200-day simple moving average is $76.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 18.93 and a beta of 0.53.

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 analysts’ expectations of $329.97 million. Tidewater had a net margin of 18.34% and a return on equity of 5.36%. Tidewater’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 EPS. Analysts expect that Tidewater Inc. will post 3.08 EPS for the current year.

Institutional Investors Weigh In On Tidewater

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Tidewater in the 2nd quarter valued at about $503,200,000. Robotti Robert purchased a new stake in shares of Tidewater in the second quarter worth approximately $193,652,000. Cerity Partners LLC boosted its holdings in shares of Tidewater by 104.3% during the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after purchasing an additional 583,607 shares during the period. Old West Investment Management LLC acquired a new stake in shares of Tidewater during the second quarter worth approximately $26,238,000. Finally, Bank of New York Mellon Corp purchased a new position in Tidewater during the second quarter valued at approximately $24,842,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.