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

Tidewater Inc. (NYSE:TDW - Get Free Report) shares reached a new 52-week low during trading on Friday . The stock traded as low as $44.00 and last traded at $44.61, with a volume of 535407 shares trading hands. The stock had previously closed at $48.60.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TDW shares. Evercore ISI cut shares of Tidewater from an "outperform" rating to an "in-line" rating and cut their price target for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. DNB Markets assumed coverage on shares of Tidewater in a research note on Friday, November 29th. They issued a "buy" rating and a $70.00 price target on the stock. StockNews.com upgraded shares of Tidewater from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Raymond James downgraded shares of Tidewater from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from $131.00 to $102.00 in a report on Monday, November 11th. Finally, Pickering Energy Partners downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Tidewater presently has a consensus rating of "Moderate Buy" and an average target price of $92.50.

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Tidewater Price Performance

The stock has a market capitalization of $2.21 billion, a P/E ratio of 12.45 and a beta of 1.04. The business's 50 day simple moving average is $53.49 and its two-hundred day simple moving average is $60.90. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

Insiders Place Their Bets

In other news, CEO Quintin Kneen acquired 41,615 shares of Tidewater stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the purchase, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. The trade was a 30.91 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.33% of the company's stock.

Institutional Investors Weigh In On Tidewater

Hedge funds have recently bought and sold shares of the stock. Fortitude Family Office LLC bought a new stake in Tidewater during the 4th quarter valued at $33,000. AlphaQuest LLC increased its stake in Tidewater by 177.4% during the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 511 shares in the last quarter. Headlands Technologies LLC bought a new stake in Tidewater during the 4th quarter valued at about $53,000. Quarry LP increased its stake in Tidewater by 187.6% during the 3rd quarter. Quarry LP now owns 814 shares of the oil and gas company's stock valued at $58,000 after purchasing an additional 531 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock valued at $58,000 after acquiring an additional 333 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Tidewater Company Profile

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.