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

Shares of Tidewater Inc. (NYSE:TDW) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $68.23 and last traded at $67.0720, with a volume of 37904 shares traded. The stock had previously closed at $66.35.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Evercore reduced their price objective on Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 12th. Dnb Nor Markets lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tidewater has a consensus rating of “Hold” and an average price target of $67.50.

Tidewater Trading Up 1.2%

The company has a market cap of $3.33 billion, a price-to-earnings ratio of 22.51 and a beta of 0.64. The company has a quick ratio of 2.79, a current ratio of 2.89 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $56.70 and its two-hundred day simple moving average is $55.31.

Tidewater (NYSE:TDW) last posted its earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). Tidewater had a net margin of 11.14% and a return on equity of 14.86%. The company had revenue of $341.11 million during the quarter, compared to analysts’ expectations of $328.84 million. During the same period last year, the business earned $0.87 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts predict that Tidewater Inc. will post 3.25 EPS for the current year.

Institutional Trading of Tidewater

Several institutional investors and hedge funds have recently made changes to their positions in TDW. Bogart Wealth LLC boosted its position in shares of Tidewater by 28.6% in the 2nd quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 200 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Tidewater by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,579 shares of the oil and gas company’s stock valued at $534,000 after buying an additional 200 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Tidewater by 23.5% in the third quarter. Parkside Financial Bank & Trust now owns 1,073 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 204 shares during the period. Lido Advisors LLC grew its position in shares of Tidewater by 4.0% during the third quarter. Lido Advisors LLC now owns 5,360 shares of the oil and gas company’s stock worth $286,000 after acquiring an additional 208 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Tidewater by 4.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,165 shares of the oil and gas company’s stock valued at $238,000 after acquiring an additional 224 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

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.