Tidewater (NYSE:TDW) Sets New 12-Month Low - Should You Sell?

Tidewater Inc. (NYSE:TDW - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $32.37 and last traded at $32.82, with a volume of 1858909 shares. The stock had previously closed at $35.48.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Evercore ISI lowered shares of Tidewater from an "outperform" rating to an "in-line" rating and cut their price objective for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners cut shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $92.50.

Tidewater Stock Down 1.1 %

The firm's 50 day moving average is $44.48 and its two-hundred day moving average is $52.40. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The firm has a market cap of $1.80 billion, a P/E ratio of 10.28 and a beta of 0.70.

Insider Activity at Tidewater

In other Tidewater news, Director Robert Robotti bought 25,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the purchase, the director now owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. The trade was a 1.14 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.33% of the stock is owned by corporate insiders.

Remove Ads

Hedge Funds Weigh In On Tidewater

Several institutional investors have recently modified their holdings of the business. Tidal Investments LLC raised its holdings in Tidewater by 8.1% during the 3rd quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company's stock worth $257,000 after buying an additional 267 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Tidewater by 45.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock worth $58,000 after acquiring an additional 333 shares during the period. Tectonic Advisors LLC lifted its position in Tidewater by 2.3% in the 4th quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company's stock valued at $961,000 after acquiring an additional 402 shares in the last quarter. Private Advisor Group LLC boosted its stake in Tidewater by 9.5% in the 4th quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company's stock worth $291,000 after purchasing an additional 463 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Tidewater by 13.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,154 shares of the oil and gas company's stock worth $227,000 after purchasing an additional 479 shares in the last quarter. Institutional investors own 95.13% of the company's stock.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.