Tidewater Inc. (NYSE:TDW - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $95.75 and last traded at $94.6850, with a volume of 416605 shares. The stock had previously closed at $94.13.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Fearnley Fonds raised Tidewater from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 5th. Pickering Energy Partners raised shares of Tidewater from an "underperform" rating to a "neutral" rating in a research report on Thursday, June 11th. Zacks Research lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 19th. Barclays lifted their target price on shares of Tidewater from $86.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. Finally, Weiss Ratings lowered shares of Tidewater from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Tidewater has a consensus rating of "Hold" and a consensus target price of $91.00.
View Our Latest Stock Report on TDW
Tidewater Price Performance
The firm has a 50-day moving average of $75.76 and a 200 day moving average of $77.60. The company has a market capitalization of $4.71 billion, a PE ratio of 19.17 and a beta of 0.53. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47.
Tidewater (NYSE:TDW - Get Free Report) last issued its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.03). The business had revenue of $342.29 million during the quarter, compared to analysts' expectations of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.Tidewater's quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. As a group, research analysts anticipate that Tidewater Inc. will post 3.08 earnings per share for the current fiscal year.
Insider Buying and Selling at Tidewater
In related news, EVP Samuel R. Rubio sold 17,705 shares of the 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 transaction, the executive vice president owned 33,214 shares in the company, valued at $3,041,073.84. This represents a 34.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by insiders.
Institutional Trading of Tidewater
Large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Tidewater in the 2nd quarter worth approximately $503,200,000. Robotti Robert bought a new stake in Tidewater during the second quarter valued at approximately $193,652,000. Cerity Partners LLC grew its position in Tidewater by 104.3% during the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company's stock valued at $57,730,000 after buying an additional 583,607 shares during the period. Bank of America Corp DE purchased a new stake in Tidewater during the second quarter valued at approximately $28,293,000. Finally, Old West Investment Management LLC purchased a new stake in Tidewater during the second quarter valued at approximately $26,238,000. Institutional investors own 95.13% of the company's stock.
About Tidewater
(
Get Free Report)
Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.
The company's fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.
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