Tidewater (NYSE:TDW) Hits New 52-Week High – What’s Next?

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TDW. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings lowered Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Barclays upped their target price on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Finally, Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Tidewater currently has a consensus rating of “Moderate Buy” and an average target price of $98.25.

Tidewater Price Performance

The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $5.02 billion, a P/E ratio of 20.43 and a beta of 0.56. The business’s fifty day moving average price is $80.80 and its 200-day moving average price is $79.55.

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

Insider Activity

In other news, EVP Samuel R. Rubio sold 17,705 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the transaction, the executive vice president directly owned 33,214 shares in the company, valued at approximately $3,041,073.84. This represents a 34.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TDW. Royal Bank of Canada lifted its holdings in shares of Tidewater by 22.6% in the 1st quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock worth $980,000 after acquiring an additional 4,278 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Tidewater by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock valued at $1,227,000 after purchasing an additional 1,271 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Tidewater by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock worth $1,895,000 after purchasing an additional 1,931 shares during the period. Cetera Investment Advisers lifted its stake in Tidewater by 4.1% in the second quarter. Cetera Investment Advisers now owns 8,010 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 314 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Tidewater by 12.1% in the second quarter. Invesco Ltd. now owns 227,443 shares of the oil and gas company’s stock worth $10,492,000 after purchasing an additional 24,609 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

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.