Tidewater (NYSE:TDW) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Tidewater shares crossed above their 200-day moving average of $81.37, reaching $86.62 before last trading at approximately $82.05.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $98.25; BTIG raised the stock to “Buy” with a $120 target.
• The company reported quarterly revenue of $342.29 million, exceeding estimates, but EPS of $0.43 missed expectations of $0.46. Insiders sold 42,705 shares worth about $4.1 million over the prior 90 days.

Tidewater Inc. (NYSE:TDW - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $81.37 and traded as high as $86.62. Tidewater shares last traded at $82.0460, with a volume of 453,444 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TDW. Weiss Ratings raised shares of Tidewater from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, September 11th. Barclays raised their target price on shares of Tidewater from $86.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. BTIG Research upgraded Tidewater from a "neutral" rating to a "buy" rating and set a $120.00 target price on the stock in a report on Tuesday, September 1st. Finally, Pickering Energy Partners upgraded Tidewater from an "underperform" rating to a "neutral" rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $98.25.

Tidewater Stock Performance

The firm's 50-day moving average price is $88.08 and its two-hundred day moving average price is $81.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 16.61 and a beta of 0.60.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The firm had revenue of $342.29 million for the quarter, compared to analyst estimates of $329.97 million. During the same quarter in the previous year, the business posted $1.46 earnings per share. Tidewater's revenue for the quarter was up .3% on a year-over-year basis. On average, analysts expect that Tidewater Inc. will post 3.08 EPS for the current fiscal year.

Insider Activity

In other news, EVP Samuel Rubio sold 17,705 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the sale, the executive vice president owned 33,214 shares in the company, valued at $3,041,073.84. This trade represents a 34.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel Hudson sold 15,000 shares of Tidewater stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $99.08, for a total transaction of $1,486,200.00. Following the sale, the executive vice president directly owned 33,029 shares in the company, valued at approximately $3,272,513.32. The trade was a 31.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,705 shares of company stock valued at $4,097,270 in the last 90 days. Company insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Tidewater

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. purchased a new position in shares of Tidewater during the 1st quarter worth $26,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Tidewater during the 2nd quarter worth about $27,000. Longview Financial Advisors Inc. purchased a new stake in Tidewater in the 1st quarter valued at about $54,000. Versant Capital Management Inc raised its holdings in Tidewater by 142.6% in the 3rd quarter. Versant Capital Management Inc now owns 740 shares of the oil and gas company's stock valued at $60,000 after buying an additional 435 shares during the period. Finally, Parallel Advisors LLC lifted its position in Tidewater by 37.3% in the first quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company's stock valued at $64,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

About Tidewater

Tidewater Inc is a global provider of offshore marine support services to the energy industry. The company operates a fleet of offshore support vessels that transport personnel, equipment and supplies to offshore facilities and assist with marine logistics, construction, maintenance and other activities.

Its vessel portfolio includes platform supply vessels, anchor-handling tug supply vessels, fast support vessels and other specialized ships designed for offshore operations. Tidewater serves customers involved in offshore oil and gas development, as well as selected activities associated with offshore wind and other marine energy projects.

Founded in 1955, Tidewater is headquartered in Houston, Texas, and serves offshore markets across regions including the Americas, Europe, the Middle East, Africa and Asia-Pacific.

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