Tidewater (NYSE:TDW) Hits New 1-Year High – Should You Buy?

Tidewater Inc. (NYSE:TDW)’s stock price reached 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 traded. The stock had previously closed at $93.12.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TDW shares. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Weiss Ratings downgraded Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Finally, Barclays raised 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, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.25.

Tidewater Price Performance

The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 19.43 and a beta of 0.53. The business’s 50-day simple moving average is $79.48 and its two-hundred day simple moving average is $79.14. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47.

Tidewater (NYSE:TDW) last issued its quarterly 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). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The firm had revenue of $342.29 million during the quarter, compared to analyst estimates of $329.97 million. During the same quarter last year, the firm posted $1.46 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts expect that Tidewater Inc. will post 3.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Samuel R. Rubio sold 17,705 shares of Tidewater stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the transaction, the executive vice president owned 33,214 shares of the company’s stock, valued at $3,041,073.84. This trade represents a 34.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Tidewater

Large investors have recently bought and sold shares of the business. Blue Trust Inc. bought a new position in shares of Tidewater in the 1st quarter worth about $26,000. Public Employees Retirement System of Ohio bought a new stake in shares of Tidewater during the 2nd quarter valued at about $27,000. Clearstead Advisors LLC boosted its position in shares of Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Tidewater by 701.6% during the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 870 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Tidewater during the second quarter worth approximately $47,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Company Profile

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.