Tidewater (NYSE:TDW) Shares Up 4.5% – Should You Buy?

by · The Cerbat Gem

Tidewater Inc. (NYSE:TDW – Get Free Report)’s share price shot up 4.5% during trading on Thursday . The company traded as high as $33.91 and last traded at $33.71. 80,355 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,069,115 shares. The stock had previously closed at $32.27.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Pickering Energy Partners lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Tidewater presently has an average rating of “Moderate Buy” and an average target price of $92.50.

Read Our Latest Stock Report on Tidewater

Tidewater Stock Up 7.1 %

The business’s fifty day simple moving average is $43.20 and its 200 day simple moving average is $51.86. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 10.18 and a beta of 0.70.

Insider Buying and Selling at Tidewater

In other news, Director Robert Robotti acquired 1,770 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $40.95 per share, for a total transaction of $72,481.50. Following the transaction, the director now directly owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. This represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.33% of the company’s stock.

Institutional Investors Weigh In On Tidewater

Large investors have recently modified their holdings of the business. Fortitude Family Office LLC acquired a new stake in Tidewater during the 4th quarter worth approximately $33,000. AlphaQuest LLC boosted its stake in Tidewater by 177.4% in the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 511 shares during the period. Headlands Technologies LLC bought a new position in Tidewater during the 4th quarter worth about $53,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Tidewater by 45.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 333 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in Tidewater by 2,018.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 1,211 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Tidewater Company Profile

(Get Free Report)

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.

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