Tidewater (NYSE:TDW) Hits New 1-Year High – Still a Buy?

Tidewater Inc. (NYSE:TDW) shares hit a new 52-week high during trading on Monday . The company traded as high as $65.14 and last traded at $64.9650, with a volume of 495206 shares changing hands. The stock had previously closed at $62.49.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TDW. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Evercore ISI lowered their target price on Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a report on Wednesday, November 12th. Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Dnb Nor Markets downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $67.50.

Tidewater Stock Up 3.4%

The stock has a 50-day moving average of $55.45 and a 200 day moving average of $54.74. The company has a market capitalization of $3.20 billion, a PE ratio of 21.77 and a beta of 0.63. The company has a quick ratio of 2.79, a current ratio of 2.89 and a debt-to-equity ratio of 0.57.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TDW. Robotti Robert grew its stake in Tidewater by 3.3% in the 2nd quarter. Robotti Robert now owns 2,951,533 shares of the oil and gas company’s stock worth $136,154,000 after buying an additional 94,902 shares in the last quarter. American Century Companies Inc. grew its position in Tidewater by 74.2% in the third quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock worth $51,698,000 after acquiring an additional 412,911 shares in the last quarter. Third Avenue Management LLC increased its stake in Tidewater by 8.1% in the second quarter. Third Avenue Management LLC now owns 875,157 shares of the oil and gas company’s stock valued at $40,371,000 after acquiring an additional 65,899 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in Tidewater by 14.3% during the second quarter. Frontier Capital Management Co. LLC now owns 744,237 shares of the oil and gas company’s stock valued at $34,332,000 after purchasing an additional 92,884 shares in the last quarter. Finally, Federated Hermes Inc. bought a new stake in Tidewater during the second quarter worth about $28,199,000. 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.