Tidewater (NYSE:TDW) Reaches New 12-Month High – What’s Next?

Shares of Tidewater Inc. (NYSE:TDW) reached a new 52-week high during trading on Thursday . The stock traded as high as $95.75 and last traded at $94.6850, with a volume of 416605 shares trading hands. The stock had previously closed at $94.13.

Wall Street Analysts Forecast Growth

TDW has been the topic of several analyst reports. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Weiss Ratings downgraded shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Barclays raised their price target on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Finally, Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $91.00.

Tidewater Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. The stock has a market capitalization of $4.79 billion, a PE ratio of 19.47 and a beta of 0.53. The firm’s 50 day moving average is $76.58 and its two-hundred day moving average is $77.96.

Tidewater (NYSE:TDW) last posted its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The business had revenue of $342.29 million for the quarter, compared to analysts’ expectations of $329.97 million. During the same quarter in the previous year, the firm earned $1.46 EPS. Tidewater’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts predict that Tidewater Inc. will post 3.08 earnings per share for the current year.

Insider Activity at Tidewater

In other Tidewater news, EVP Samuel R. Rubio sold 17,705 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the sale, the executive vice president directly owned 33,214 shares in the company, valued at approximately $3,041,073.84. The trade was a 34.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TDW. BlackRock Inc. acquired a new stake in Tidewater during the 2nd quarter worth approximately $503,200,000. Robotti Robert acquired a new position in shares of Tidewater during the second quarter worth about $193,652,000. State Street Corp lifted its stake in shares of Tidewater by 4.7% during the fourth quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock worth $96,064,000 after purchasing an additional 85,697 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Tidewater by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,838,769 shares of the oil and gas company’s stock worth $153,623,000 after buying an additional 86,084 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Tidewater by 11.1% in the second quarter. Wellington Management Group LLP now owns 1,475,804 shares of the oil and gas company’s stock valued at $98,333,000 after buying an additional 147,189 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Company Profile

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.