Tidewater (NYSE:TDW) Hits New 52-Week High at $93.15

Tidewater Inc. (NYSE:TDW - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $93.15 and last traded at $92.32, with a volume of 29804 shares traded. The stock had previously closed at $92.20.

Analysts Set New Price Targets

A number of analysts have commented on the company. Johnson Rice assumed coverage on Tidewater in a research report on Friday, February 9th. They set a "buy" rating and a $88.00 price target for the company. Pickering Energy Partners assumed coverage on Tidewater in a research report on Tuesday, January 30th. They set an "outperform" rating for the company. StockNews.com raised Tidewater from a "sell" rating to a "hold" rating in a research report on Monday, March 4th. Evercore ISI lifted their price target on Tidewater from $87.00 to $89.00 and gave the stock an "outperform" rating in a research report on Monday, March 4th. Finally, BTIG Research boosted their price objective on Tidewater from $90.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, March 19th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $93.00.

Tidewater Stock Down 0.2 %

The business has a fifty day moving average of $75.71 and a two-hundred day moving average of $69.22. The company has a current ratio of 1.80, a quick ratio of 1.70 and a debt-to-equity ratio of 0.61. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 50.27 and a beta of 1.17.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.03). The company had revenue of $302.66 million during the quarter, compared to analysts' expectations of $309.46 million. Tidewater had a net margin of 9.62% and a return on equity of 13.37%. Tidewater's revenue for the quarter was up 62.1% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. As a group, equities analysts anticipate that Tidewater Inc. will post 4.94 EPS for the current fiscal year.

Tidewater declared that its board has approved a share repurchase program on Thursday, February 29th that permits the company to buyback $48.60 million in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 1.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Tidewater news, COO David E. Darling sold 17,821 shares of the company's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total transaction of $1,462,747.68. Following the transaction, the chief operating officer now directly owns 85,959 shares in the company, valued at $7,055,514.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Daniel A. Hudson sold 8,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $82.00, for a total value of $656,000.00. Following the sale, the executive vice president now directly owns 104,312 shares in the company, valued at $8,553,584. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO David E. Darling sold 17,821 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $82.08, for a total value of $1,462,747.68. Following the completion of the sale, the chief operating officer now owns 85,959 shares in the company, valued at $7,055,514.72. The disclosure for this sale can be found here. Insiders have sold 45,462 shares of company stock worth $3,716,739 over the last ninety days. Corporate insiders own 9.59% of the company's stock.

Hedge Funds Weigh In On Tidewater

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its holdings in Tidewater by 71.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company's stock valued at $27,000 after buying an additional 156 shares during the last quarter. Parkside Financial Bank & Trust purchased a new position in Tidewater in the fourth quarter valued at $33,000. Tower Research Capital LLC TRC grew its holdings in shares of Tidewater by 36.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,021 shares of the oil and gas company's stock worth $45,000 after purchasing an additional 270 shares during the last quarter. Ensign Peak Advisors Inc purchased a new position in shares of Tidewater during the third quarter worth about $51,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Tidewater during the third quarter worth about $71,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

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.