Tidewater (NYSE:TDW) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Tidewater Inc. (NYSE:TDW)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $69.30 and traded as high as $75.04. Tidewater shares last traded at $73.4150, with a volume of 708,374 shares changing hands.

Wall Street Analysts Forecast Growth

TDW has been the subject of a number of recent analyst reports. Dawson James reaffirmed an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Barclays boosted their price objective on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Raymond James Financial set a $117.00 price target on Tidewater in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $89.33.

Tidewater Stock Down 1.7%

The company has a market capitalization of $3.65 billion, a P/E ratio of 12.30 and a beta of 0.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33. The firm’s fifty day moving average is $82.61 and its 200-day moving average is $69.30.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.63). The company had revenue of $326.22 million during the quarter, compared to the consensus estimate of $322.83 million. Tidewater had a net margin of 22.16% and a return on equity of 8.79%. Tidewater’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 EPS. As a group, equities research analysts predict that Tidewater Inc. will post 3.52 EPS for the current year.

Insider Activity

In other news, EVP Daniel A. Hudson sold 5,195 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.56, for a total transaction of $418,509.20. Following the sale, the executive vice president directly owned 45,971 shares in the company, valued at approximately $3,703,423.76. The trade was a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Samuel R. Rubio sold 22,461 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the transaction, the executive vice president directly owned 60,066 shares of the company’s stock, valued at $4,808,283.30. The trade was a 27.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TDW. Blue Trust Inc. bought a new stake in shares of Tidewater in the 1st quarter valued at $26,000. Hantz Financial Services Inc. raised its stake in Tidewater by 401.0% during the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock worth $28,000 after buying an additional 413 shares during the last quarter. Blume Capital Management Inc. lifted its holdings in Tidewater by 128.3% in the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 295 shares during the period. Longview Financial Advisors Inc. bought a new stake in Tidewater during the first quarter valued at $54,000. Finally, Parallel Advisors LLC boosted its position in Tidewater by 37.3% during the first quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 208 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

About Tidewater

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.