Tidewater (NYSE:TDW) Reaches New 1-Year Low - Should You Sell?

Tidewater Inc. (NYSE:TDW - Get Free Report) shares hit a new 52-week low during trading on Monday . The stock traded as low as $54.40 and last traded at $54.69, with a volume of 91194 shares changing hands. The stock had previously closed at $56.07.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TDW. Raymond James downgraded Tidewater from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $131.00 to $102.00 in a research note on Monday. StockNews.com raised shares of Tidewater from a "sell" rating to a "hold" rating in a research note on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $102.25.

Tidewater Stock Down 1.8 %

The business's 50 day moving average is $68.09 and its 200-day moving average is $86.60. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 16.19 and a beta of 1.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 1.90.

Tidewater announced that its Board of Directors has initiated a stock repurchase program on Tuesday, August 6th that allows the company to buyback $13.90 million in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 0.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Tidewater

Several institutional investors and hedge funds have recently added to or reduced their stakes in TDW. Vanguard Group Inc. boosted its stake in Tidewater by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company's stock worth $442,956,000 after purchasing an additional 985,398 shares during the last quarter. Van ECK Associates Corp acquired a new stake in Tidewater during the 3rd quarter worth $51,089,000. Hsbc Holdings PLC boosted its stake in Tidewater by 11,317.3% during the 2nd quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company's stock worth $60,992,000 after purchasing an additional 639,765 shares during the last quarter. Villere ST Denis J & Co. LLC acquired a new stake in Tidewater during the 3rd quarter worth $25,871,000. Finally, Boston Partners boosted its stake in Tidewater by 11.7% during the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company's stock worth $214,055,000 after purchasing an additional 243,489 shares during the last quarter. Institutional investors and hedge funds 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.