Tidewater (NYSE:TDW) Stock Price Down 5.1% – Time to Sell?

Tidewater Inc. (NYSE:TDW)’s share price dropped 5.1% during trading on Tuesday . The stock traded as low as $76.71 and last traded at $76.9070. Approximately 505,730 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 817,056 shares. The stock had previously closed at $81.00.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Raymond James Financial set a $117.00 price target on Tidewater in a research report on Tuesday, March 3rd. Dawson James reissued an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Finally, Evercore cut their price target on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a report on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $91.00.

Tidewater Price Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.78 and a current ratio of 2.90. The company has a market cap of $3.95 billion, a P/E ratio of 11.91 and a beta of 0.57. The firm has a 50 day moving average price of $66.71 and a two-hundred day moving average price of $58.61.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $3.64. The business had revenue of $336.80 million for the quarter, compared to analysts’ expectations of $329.39 million. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 EPS. On average, analysts predict that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Samuel R. Rubio sold 22,461 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the transaction, the executive vice president directly owned 60,066 shares of the company’s stock, valued at approximately $4,808,283.30. This trade represents a 27.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel A. Hudson sold 5,195 shares of Tidewater stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $80.56, for a total transaction of $418,509.20. Following the completion of the transaction, the executive vice president owned 45,971 shares of the company’s stock, valued at $3,703,423.76. This represents a 10.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 52,656 shares of company stock worth $4,079,112 over the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Tidewater

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. bought a new stake in shares of Tidewater during the second quarter valued at about $28,199,000. Cerity Partners LLC lifted its stake in Tidewater by 104.3% in the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after purchasing an additional 583,607 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Tidewater in the 4th quarter valued at $21,922,000. American Century Companies Inc. grew its position in shares of Tidewater by 291.8% during the 2nd quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company’s stock valued at $25,670,000 after purchasing an additional 414,454 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of Tidewater by 1,118.5% in the second quarter. Boston Partners now owns 283,676 shares of the oil and gas company’s stock worth $14,089,000 after purchasing an additional 260,395 shares during the period. 95.13% of the stock is currently owned by 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.