Tidewater (NYSE:TDW) Hits New 12-Month High – Here’s What Happened

Tidewater Inc. (NYSE:TDW)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $82.00 and last traded at $78.8130, with a volume of 1567407 shares trading hands. The stock had previously closed at $73.38.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TDW shares. Evercore decreased their price objective 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. Raymond James Financial reissued an “outperform” rating on shares of Tidewater in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Finally, Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.50.

Tidewater Stock Down 1.1%

The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 26.46 and a beta of 0.65. The company has a quick ratio of 2.79, a current ratio of 2.89 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average is $60.83 and its two-hundred day moving average is $56.98.

Insider Transactions at Tidewater

In other Tidewater news, EVP Daniel A. Hudson sold 15,000 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $77.50, for a total value of $1,162,500.00. Following the completion of the sale, the executive vice president directly owned 50,986 shares in the company, valued at $3,951,415. This represents a 22.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tidewater

Hedge funds have recently modified their holdings of the company. Lido Advisors LLC grew its stake in shares of Tidewater by 2.8% in the 4th quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock valued at $290,000 after buying an additional 149 shares during the period. Clearstead Advisors LLC grew its position in Tidewater by 22.2% in the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 158 shares during the period. Parkside Financial Bank & Trust increased its stake in Tidewater by 15.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,239 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 166 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Tidewater by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,579 shares of the oil and gas company’s stock valued at $534,000 after purchasing an additional 200 shares during the period. Finally, Manatuck Hill Partners LLC lifted its stake in shares of Tidewater by 5.1% in the 4th quarter. Manatuck Hill Partners LLC now owns 4,100 shares of the oil and gas company’s stock valued at $207,000 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.