Tidewater (NYSE:TDW) Hits New 12-Month High – Still a Buy?

Tidewater Inc. (NYSE:TDW) shares reached a new 52-week high on Wednesday . The stock traded as high as $71.77 and last traded at $71.6070, with a volume of 48087 shares traded. The stock had previously closed at $69.90.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TDW. Evercore reduced their price objective on Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a research note on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Finally, Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.50.

Tidewater Price Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.79 and a current ratio of 2.89. The company has a market cap of $3.64 billion, a P/E ratio of 24.72 and a beta of 0.65. The firm’s fifty day moving average is $59.34 and its two-hundred day moving average is $56.60.

Insider Transactions at Tidewater

In related news, EVP Daniel A. Hudson sold 10,000 shares of Tidewater stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $70.01, for a total transaction of $700,100.00. Following the sale, the executive vice president owned 65,986 shares of the company’s stock, valued at approximately $4,619,679.86. This trade represents a 13.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Tidewater

Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of Tidewater by 6.2% during the fourth quarter. Invesco Ltd. now owns 246,302 shares of the oil and gas company’s stock worth $12,441,000 after acquiring an additional 14,413 shares during the last quarter. Empowered Funds LLC purchased a new stake in Tidewater in the 4th quarter worth $2,906,000. XTX Topco Ltd bought a new position in shares of Tidewater during the 4th quarter valued at about $2,424,000. SummitTX Capital L.P. purchased a new position in shares of Tidewater during the fourth quarter valued at about $11,403,000. Finally, Tudor Investment Corp ET AL increased its holdings in shares of Tidewater by 342.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 92,438 shares of the oil and gas company’s stock worth $4,669,000 after purchasing an additional 71,538 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

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.