Tidewater (NYSE:TDW) Stock Price Up 3.5% - Time to Buy?

Shares of Tidewater Inc. (NYSE:TDW - Get Free Report) rose 3.5% during trading on Friday . The stock traded as high as $50.38 and last traded at $50.38. Approximately 173,861 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 917,010 shares. The stock had previously closed at $48.68.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. StockNews.com upgraded 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 reduced their target price for the company from $131.00 to $102.00 in a research note on Monday, November 11th. Finally, DNB Markets started coverage on shares of Tidewater in a research report on Friday, November 29th. They set a "buy" rating and a $70.00 target price for the company. 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 a consensus price target of $95.80.

Tidewater Trading Up 0.7 %

The business has a 50 day simple moving average of $55.40 and a 200 day simple moving average of $76.59. 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 company has a market cap of $2.56 billion, a price-to-earnings ratio of 14.41 and a beta of 1.10.

Insider Activity at Tidewater

In other news, CEO Quintin Kneen bought 41,615 shares of the stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the purchase, the chief executive officer now owns 176,239 shares of the company's stock, valued at approximately $8,470,046.34. This represents a 30.91 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 8.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tidewater

Several hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Tidewater during the 2nd quarter valued at about $27,000. Hollencrest Capital Management bought a new stake in shares of Tidewater during the second quarter worth approximately $30,000. GAMMA Investing LLC lifted its holdings in Tidewater by 163.5% in the third 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. bought a new position in Tidewater in the third quarter valued at approximately $65,000. Finally, Headlands Technologies LLC grew its holdings in 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. 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.