Tidewater (NYSE:TDW) Sets New 12-Month Low – What’s Next?

Tidewater Inc. (NYSE:TDW)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $44.00 and last traded at $44.61, with a volume of 535407 shares changing hands. The stock had previously closed at $48.60.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TDW. Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $131.00 to $102.00 in a research report on Monday, November 11th. DNB Markets started coverage on Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 price objective on the stock. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Tidewater Trading Down 6.1 %

The firm has a market cap of $2.39 billion, a P/E ratio of 13.42 and a beta of 1.04. The stock has a fifty day simple moving average of $53.69 and a 200 day simple moving average of $61.41. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29.

Insider Activity at Tidewater

In other Tidewater news, CEO Quintin Kneen acquired 41,615 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the transaction, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at approximately $8,470,046.34. The trade was a 30.91 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tidewater

Several large investors have recently made changes to their positions in TDW. CSS LLC IL bought a new position in shares of Tidewater during the fourth quarter valued at approximately $547,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tidewater by 8.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,902 shares of the oil and gas company’s stock valued at $2,347,000 after buying an additional 3,325 shares during the last quarter. Voloridge Investment Management LLC grew its stake in shares of Tidewater by 110.7% during the fourth quarter. Voloridge Investment Management LLC now owns 340,103 shares of the oil and gas company’s stock valued at $18,607,000 after buying an additional 178,650 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Tidewater by 89.4% during the fourth quarter. Squarepoint Ops LLC now owns 208,744 shares of the oil and gas company’s stock valued at $11,420,000 after buying an additional 98,522 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its stake in shares of Tidewater by 15.2% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 531,981 shares of the oil and gas company’s stock valued at $29,105,000 after buying an additional 70,194 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Company Profile

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.