Tidewater (NYSE:TDW) Stock Price Down 6.4% - Time to Sell?

Tidewater Inc. (NYSE:TDW - Get Free Report) shares traded down 6.4% during trading on Monday . The company traded as low as $42.88 and last traded at $42.68. 720,832 shares were traded during trading, a decline of 31% from the average session volume of 1,047,496 shares. The stock had previously closed at $45.62.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com raised shares of Tidewater from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Evercore ISI lowered shares of Tidewater from an "outperform" rating to an "in-line" rating and dropped their price objective for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. DNB Markets assumed coverage on shares of Tidewater in a report on Friday, November 29th. They set a "buy" rating and a $70.00 price objective on the stock. Finally, Raymond James lowered shares of Tidewater from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $131.00 to $102.00 in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $92.50.

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Tidewater Stock Up 5.4 %

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 company has a market cap of $2.26 billion, a price-to-earnings ratio of 12.70 and a beta of 1.04. The stock's fifty day moving average is $52.95 and its two-hundred day moving average is $60.29.

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 stock was purchased at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the purchase, the chief executive officer now owns 176,239 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, Director Robert Robotti acquired 1,770 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $40.95 per share, with a total value of $72,481.50. Following the purchase, the director now owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. The trade was a 0.08 % increase in their position. The disclosure for this purchase can be found here. 8.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tidewater

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its stake in Tidewater by 8.1% in the 3rd quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company's stock valued at $257,000 after buying an additional 267 shares during the last quarter. Glenmede Trust Co. NA increased its stake in Tidewater by 3.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,479 shares of the oil and gas company's stock valued at $680,000 after buying an additional 321 shares during the last quarter. EverSource Wealth Advisors LLC grew its position 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 period. Tectonic Advisors LLC grew its position in shares of Tidewater by 2.3% during the 4th quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company's stock valued at $961,000 after acquiring an additional 402 shares during the period. Finally, Private Advisor Group LLC grew its position in shares of Tidewater by 9.5% during the 4th quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company's stock valued at $291,000 after acquiring an additional 463 shares during the period. Hedge funds and other 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.