Tidewater (NYSE:TDW) Hits New 52-Week High – Should You Buy?

Shares of Tidewater Inc. (NYSE:TDW) reached a new 52-week high on Thursday . The company traded as high as $95.75 and last traded at $94.6850, with a volume of 416605 shares trading hands. The stock had previously closed at $94.13.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings cut Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Finally, Barclays upped their target price on Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Tidewater has an average rating of “Hold” and a consensus price target of $91.00.

Tidewater Stock Performance

The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $75.76 and a 200 day moving average price of $77.60. The stock has a market cap of $4.71 billion, a PE ratio of 19.17 and a beta of 0.53.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The business had revenue of $342.29 million during the quarter, compared to analysts’ expectations of $329.97 million. During the same period last year, the company earned $1.46 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. As a group, research analysts forecast that Tidewater Inc. will post 3.08 earnings per share for the current year.

Insider Buying and Selling at Tidewater

In other news, EVP Samuel R. Rubio sold 17,705 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the transaction, the executive vice president directly owned 33,214 shares in the company, valued at approximately $3,041,073.84. This trade represents a 34.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.90% of the company’s stock.

Institutional Trading of Tidewater

A number of hedge funds have recently bought and sold shares of TDW. Blue Trust Inc. bought a new stake in Tidewater during the 1st quarter valued at $26,000. Public Employees Retirement System of Ohio bought a new position in shares of Tidewater in the 2nd quarter worth $27,000. Clearstead Advisors LLC lifted its stake 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 worth $44,000 after purchasing an additional 158 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Tidewater by 701.6% during the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Tidewater during the second quarter valued at about $47,000. 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.