Tidewater (NYSE:TDW) Trading 3.2% Higher - What's Next?

Tidewater Inc. (NYSE:TDW - Get Free Report)'s share price was up 3.2% during trading on Wednesday . The company traded as high as $45.08 and last traded at $44.90. Approximately 94,788 shares were traded during trading, a decline of 91% from the average daily volume of 1,009,354 shares. The stock had previously closed at $43.51.

Analyst Ratings Changes

A number of analysts have issued reports on TDW shares. Pickering Energy Partners lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Evercore ISI downgraded shares of Tidewater from an "outperform" rating to an "in-line" rating and cut their target price for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Tidewater has a consensus rating of "Moderate Buy" and a consensus price target of $92.50.

Tidewater Stock Performance

The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 12.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The stock has a 50 day simple moving average of $48.75 and a two-hundred day simple moving average of $55.47.

Insider Activity

In other news, Director Robert Robotti bought 25,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the transaction, the director now owns 2,208,670 shares of the company's stock, valued at approximately $88,589,753.70. This trade represents a 1.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.33% of the company's stock.

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Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TDW. Fortitude Family Office LLC purchased a new position in shares of Tidewater during the fourth quarter worth approximately $33,000. AlphaQuest LLC increased its stake in Tidewater by 177.4% in the fourth 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 during the period. Headlands Technologies LLC purchased a new stake in shares of Tidewater in the fourth quarter valued at about $53,000. Quarry LP boosted its stake in shares of Tidewater by 187.6% during the third quarter. Quarry LP now owns 814 shares of the oil and gas company's stock worth $58,000 after buying an additional 531 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Tidewater by 45.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock worth $58,000 after buying an additional 333 shares during the last quarter. Hedge funds and other 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.