Tidewater (NYSE:TDW) Shares Gap Up - Still a Buy?

Tidewater Inc. (NYSE:TDW - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $54.71, but opened at $56.53. Tidewater shares last traded at $56.57, with a volume of 169,417 shares changing hands.

Analyst Ratings Changes

Several research analysts recently commented on TDW shares. DNB Markets began coverage on Tidewater in a research report on Friday, November 29th. They set a "buy" rating and a $70.00 price target for the company. Raymond James downgraded Tidewater from a "strong-buy" rating to an "outperform" rating and cut their price objective for the company from $131.00 to $102.00 in a report on Monday, November 11th. Finally, StockNews.com upgraded shares of Tidewater from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $95.80.

Tidewater Stock Up 1.9 %

The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The firm has a fifty day simple moving average of $53.08 and a 200-day simple moving average of $73.35. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 16.39 and a beta of 1.10.

Insider Buying and Selling

In other news, CEO Quintin Kneen acquired 41,615 shares of the firm's stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the acquisition, the chief executive officer now directly owns 176,239 shares in the company, valued at $8,470,046.34. This represents a 30.91 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 8.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tidewater

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Tidewater during the 2nd quarter valued at $27,000. Hollencrest Capital Management acquired a new stake in Tidewater during the second quarter worth about $30,000. GAMMA Investing LLC increased its holdings in Tidewater by 163.5% in the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company's stock valued at $50,000 after buying an additional 435 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in shares of Tidewater in the 3rd quarter valued at approximately $65,000. Finally, Headlands Technologies LLC lifted its holdings in shares of Tidewater by 6,322.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company's stock worth $110,000 after acquiring an additional 1,138 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.