Tidewater (NYSE:TDW) Shares Gap Up – What’s Next?

Shares of Tidewater Inc. (NYSE:TDW) gapped up before the market opened on Monday . The stock had previously closed at $73.38, but opened at $76.86. Tidewater shares last traded at $80.2550, with a volume of 300,060 shares changing hands.

Analyst Upgrades and Downgrades

TDW has been the topic of a number of recent research reports. Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Evercore cut 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. Finally, Raymond James Financial restated an “outperform” rating on shares of Tidewater in a research note on Monday. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Tidewater currently has an average rating of “Hold” and a consensus price target of $67.50.

Tidewater Stock Performance

The firm 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 50-day moving average price of $60.31 and a 200-day moving average price of $56.83. The company has a quick ratio of 2.79, a current ratio of 2.89 and a debt-to-equity ratio of 0.57.

Insider Activity

In other news, EVP Daniel A. Hudson sold 15,000 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the transaction, the executive vice president directly owned 50,986 shares of the company’s stock, valued at approximately $3,951,415. This trade represents a 22.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.60% of the company’s stock.

Institutional Trading of Tidewater

Several institutional investors have recently modified their holdings of the company. Lido Advisors LLC grew its holdings in Tidewater by 2.8% during the fourth quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock worth $290,000 after acquiring an additional 149 shares during the period. Clearstead Advisors LLC boosted its position in shares of Tidewater by 22.2% during the 4th 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. Parkside Financial Bank & Trust grew its stake in shares of Tidewater by 15.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,239 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 166 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Tidewater by 1.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,579 shares of the oil and gas company’s stock worth $534,000 after purchasing an additional 200 shares in the last quarter. Finally, Manatuck Hill Partners LLC raised its holdings 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 worth $207,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

About Tidewater

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.