Tidewater (NYSE:TDW) Reaches New 1-Year High at $99.03

Tidewater Inc. (NYSE:TDW - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $99.03 and last traded at $98.43, with a volume of 111017 shares traded. The stock had previously closed at $94.76.

Analyst Ratings Changes

TDW has been the topic of a number of research reports. Johnson Rice initiated coverage on Tidewater in a report on Friday, February 9th. They issued a "buy" rating and a $88.00 price target on the stock. Evercore ISI upped their price target on Tidewater from $87.00 to $89.00 and gave the stock an "outperform" rating in a report on Monday, March 4th. StockNews.com upgraded Tidewater from a "sell" rating to a "hold" rating in a report on Monday, March 4th. BTIG Research increased their target price on Tidewater from $90.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, March 19th. Finally, Pickering Energy Partners began coverage on Tidewater in a report on Tuesday, January 30th. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tidewater presently has an average rating of "Buy" and a consensus price target of $93.00.

Tidewater Stock Up 4.2 %

The firm has a fifty day moving average price of $78.10 and a 200-day moving average price of $70.09. The company has a quick ratio of 1.70, a current ratio of 1.80 and a debt-to-equity ratio of 0.61. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 53.98 and a beta of 1.20.

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

Tidewater declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 29th that permits the company to repurchase $48.60 million in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 1.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Samuel R. Rubio sold 19,641 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total value of $1,597,991.76. Following the transaction, the chief financial officer now directly owns 98,036 shares of the company's stock, valued at approximately $7,976,208.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of the firm's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total value of $1,597,991.76. Following the transaction, the chief financial officer now directly owns 98,036 shares of the company's stock, valued at $7,976,208.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel A. Hudson sold 8,000 shares of the firm's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total value of $656,000.00. Following the completion of the transaction, the executive vice president now directly owns 104,312 shares in the company, valued at $8,553,584. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,462 shares of company stock valued at $3,716,739. 9.59% 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 stock. PNC Financial Services Group Inc. grew its stake in shares of Tidewater by 71.6% during 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 acquiring an additional 156 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Tidewater by 5.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,926 shares of the oil and gas company's stock valued at $218,000 after acquiring an additional 199 shares in the last quarter. Precision Wealth Strategies LLC grew its stake in shares of Tidewater by 8.5% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company's stock valued at $243,000 after acquiring an additional 264 shares in the last quarter. Tower Research Capital LLC TRC grew its stake 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 valued at $45,000 after acquiring an additional 270 shares in the last quarter. Finally, Meixler Investment Management Ltd. grew its stake in shares of Tidewater by 1.9% during the fourth quarter. Meixler Investment Management Ltd. now owns 15,448 shares of the oil and gas company's stock valued at $1,114,000 after acquiring an additional 284 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other 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.