Tidewater (NYSE:TDW) Sets New 52-Week High – Here’s What Happened

Tidewater Inc. (NYSE:TDW)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $68.23 and last traded at $67.0720, with a volume of 37904 shares. The stock had previously closed at $66.35.

Analysts Set New Price Targets

TDW has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Dnb Nor Markets downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Evercore reduced their price target on Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a report on Wednesday, November 12th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $67.50.

Tidewater Price Performance

The company has a current ratio of 2.89, a quick ratio of 2.79 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average price is $57.24 and its two-hundred day moving average price is $55.54. The stock has a market cap of $3.40 billion, a P/E ratio of 23.13 and a beta of 0.65.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). The company had revenue of $341.11 million during the quarter, compared to the consensus estimate of $328.84 million. Tidewater had a return on equity of 14.86% and a net margin of 11.14%.Tidewater’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. As a group, sell-side analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tidewater

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its position in shares of Tidewater by 401.0% in the 3rd 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 period. Blume Capital Management Inc. boosted its stake in Tidewater by 128.3% during the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 295 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Tidewater by 4,245.0% in the second quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 849 shares during the period. Clearstead Advisors LLC increased its stake in shares of Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 158 shares in the last quarter. Finally, Bogart Wealth LLC lifted its holdings in shares of Tidewater by 28.6% during the second quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.