Tidewater (NYSE:TDW) Reaches New 1-Year High - What's Next?

Key Points

• Tidewater hit a new 52-week high around $89.75, trading up roughly 1.1% and carrying a market capitalization near $4.43 billion.
• The company reported a significant quarterly beat — EPS $4.41 vs. $0.77 consensus and $336.8M in revenue — but analysts remain mixed, with a consensus rating of Hold and an average price target of $87.33.
• Company insiders sold a total of 52,656 shares (~$4.08M) last quarter, even as institutional ownership sits very high at 95.13% and several funds materially increased their stakes.

Tidewater Inc. (NYSE:TDW - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $89.75 and last traded at $89.8130, with a volume of 5350 shares. The stock had previously closed at $88.52.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TDW. Zacks Research upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Monday, April 20th. Raymond James Financial set a $117.00 price objective on Tidewater in a research report on Tuesday, March 3rd. Dawson James restated an "outperform" rating on shares of Tidewater in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tidewater in a research note on Monday, December 29th. Finally, Barclays began coverage on Tidewater in a research note on Wednesday, April 1st. They set an "equal weight" rating and a $80.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $87.33.

Tidewater Trading Up 1.1%

The company has a 50 day moving average price of $80.41 and a 200 day moving average price of $64.23. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 13.37 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.78 and a current ratio of 2.90.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, beating the consensus estimate of $0.77 by $3.64. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The business had revenue of $336.80 million for the quarter, compared to analyst estimates of $329.39 million. During the same quarter in the prior year, the company posted $0.70 EPS. The company's quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts expect that Tidewater Inc. will post 4.04 earnings per share for the current year.

Insider Buying and Selling at Tidewater

In related news, EVP Samuel R. Rubio sold 22,461 shares of the business's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total value of $1,798,003.05. Following the sale, the executive vice president owned 60,066 shares in the company, valued at approximately $4,808,283.30. The trade was a 27.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel A. Hudson sold 5,195 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $80.56, for a total value of $418,509.20. Following the completion of the sale, the executive vice president owned 45,971 shares in the company, valued at $3,703,423.76. This represents a 10.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,656 shares of company stock worth $4,079,112 in the last quarter. Company insiders own 6.60% of the company's stock.

Institutional Investors Weigh In On Tidewater

Institutional investors and hedge funds have recently modified their holdings of the company. Cerity Partners LLC increased its holdings in Tidewater by 104.3% during the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company's stock worth $57,730,000 after purchasing an additional 583,607 shares during the period. Fort Washington Investment Advisors Inc. OH purchased a new stake in Tidewater during the 4th quarter worth about $21,922,000. American Century Companies Inc. increased its holdings in Tidewater by 74.2% during the 3rd quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company's stock worth $51,698,000 after purchasing an additional 412,911 shares during the period. Keybank National Association OH purchased a new stake in Tidewater during the 1st quarter worth about $25,456,000. Finally, Canoe Financial LP purchased a new stake in Tidewater during the 1st quarter worth about $22,960,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

About Tidewater

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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