Tidewater (NYSE:TDW) Reaches New 1-Year High – What’s Next?

by · The Cerbat Gem

Tidewater Inc. (NYSE:TDWGet Free Report) hit a new 52-week high on Monday . The stock traded as high as $89.75 and last traded at $89.8130, with a volume of 5350 shares. The stock had previously closed at $88.52.

Analysts Set New Price Targets

TDW has been the topic of several recent research reports. Raymond James Financial set a $117.00 price target on Tidewater in a report on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Barclays started coverage on Tidewater in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $80.00 price objective on the stock. Dawson James reiterated an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Finally, Zacks Research upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Tidewater has an average rating of “Hold” and a consensus target price of $87.33.

Get Our Latest Stock Analysis on TDW

Tidewater Trading Up 1.1%

The firm has a market cap of $4.43 billion, a PE ratio of 13.37 and a beta of 0.56. The company has a current ratio of 2.90, a quick ratio of 2.78 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average price of $80.41 and a 200 day moving average price of $64.23.

Tidewater (NYSE:TDWGet Free Report) last released its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $3.64. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The business had revenue of $336.80 million for the quarter, compared to the consensus estimate of $329.39 million. During the same quarter in the prior year, the business posted $0.70 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts forecast that Tidewater Inc. will post 4.04 EPS for the current year.

Insider Buying and Selling

In related news, EVP Daniel A. Hudson sold 15,000 shares of the firm’s stock in a transaction that occurred 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 owned 50,986 shares in the company, valued at $3,951,415. This trade represents a 22.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Samuel R. Rubio sold 22,461 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total value of $1,798,003.05. Following the transaction, the executive vice president owned 60,066 shares in the company, valued at $4,808,283.30. This represents a 27.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,656 shares of company stock worth $4,079,112 in the last 90 days. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new position in Tidewater during the 1st quarter worth approximately $26,000. Blume Capital Management Inc. grew its stake in Tidewater by 128.3% during the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Tidewater by 401.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 413 shares during the period. Clearstead Advisors LLC lifted its position in 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 acquiring an additional 158 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Tidewater by 701.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 870 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Company Profile

(Get Free Report)

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.

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