Tidewater (NYSE:TDW) Stock Price Up 2.6% - Still a Buy?

Tidewater Inc. (NYSE:TDW - Get Free Report) shares rose 2.6% on Monday . The stock traded as high as $52.91 and last traded at $52.80. Approximately 333,536 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 927,830 shares. The stock had previously closed at $51.47.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TDW shares. StockNews.com upgraded shares of Tidewater from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. DNB Markets assumed coverage on shares of Tidewater in a research report on Friday, November 29th. They set a "buy" rating and a $70.00 price objective for the company. Finally, Raymond James lowered Tidewater from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.80.

Tidewater Stock Up 3.4 %

The stock's fifty day simple moving average is $53.71 and its 200-day simple moving average is $74.26. The stock has a market cap of $2.78 billion, a P/E ratio of 15.65 and a beta of 1.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29.

Insider Buying and Selling

In other news, CEO Quintin Kneen bought 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.33% of the stock is currently owned by company insiders.

Institutional Trading of Tidewater

Institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC raised its position in Tidewater by 8.1% during the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company's stock valued at $257,000 after purchasing an additional 267 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Tidewater by 30.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company's stock worth $1,220,000 after buying an additional 3,969 shares in the last quarter. Neo Ivy Capital Management lifted its position in shares of Tidewater by 22.5% during the 3rd quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company's stock worth $994,000 after buying an additional 2,544 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Tidewater by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company's stock worth $78,473,000 after buying an additional 5,713 shares during the last quarter. Finally, Barclays PLC boosted its stake in Tidewater by 354.2% in the third quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock valued at $5,661,000 after buying an additional 61,487 shares in the last quarter. Institutional investors own 95.13% of the company's stock.

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.