Tidewater (NYSE:TDW) Hits New 1-Year Low - Time to Sell?

Tidewater Inc. (NYSE:TDW - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $38.26 and last traded at $38.65, with a volume of 399722 shares changing hands. The stock had previously closed at $43.31.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TDW shares. Evercore ISI downgraded 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 research note on Wednesday, January 15th. Pickering Energy Partners lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Tidewater presently has an average rating of "Moderate Buy" and an average price target of $92.50.

Tidewater Stock Down 7.5 %

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 $1.69 billion, a P/E ratio of 9.65 and a beta of 0.70. The firm's 50 day moving average is $46.00 and its two-hundred day moving average is $53.49.

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. Vanguard Group Inc. raised its holdings in Tidewater by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company's stock worth $300,155,000 after buying an additional 56,919 shares during the period. Robotti Robert increased its position in shares of Tidewater by 1.1% during the fourth quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company's stock worth $144,050,000 after acquiring an additional 28,083 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Tidewater by 20.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company's stock worth $126,180,000 after acquiring an additional 390,814 shares during the period. State Street Corp lifted its position in Tidewater by 1.9% in the 3rd quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company's stock valued at $134,044,000 after acquiring an additional 35,318 shares in the last quarter. Finally, Encompass Capital Advisors LLC boosted its stake in Tidewater by 17.7% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company's stock worth $86,569,000 after purchasing an additional 238,170 shares during the period. 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.