Tidewater (NYSE:TDW) Sets New 12-Month Low – Should You Sell?

Tidewater Inc. (NYSE:TDW)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $38.26 and last traded at $38.65, with a volume of 399722 shares changing hands. The stock had previously closed at $43.31.

Wall Street Analysts Forecast Growth

TDW has been the subject of a number of research reports. Evercore ISI downgraded shares of Tidewater from an “outperform” rating to an “in-line” rating and reduced their price target for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tidewater presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.

Tidewater Price Performance

The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $47.22 and its 200-day simple moving average is $54.50. The stock has a market cap of $1.78 billion, a P/E ratio of 10.19 and a beta of 1.06.

Insider Buying and Selling

In related news, Director Robert Robotti purchased 25,000 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the transaction, the director now directly owns 2,208,670 shares of the company’s stock, valued at approximately $88,589,753.70. The trade was a 1.14 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.33% of the company’s stock.

Institutional Investors Weigh In On Tidewater

Several institutional investors and hedge funds have recently made changes to their positions in TDW. Pacer Advisors Inc. increased its position in shares of Tidewater by 42,719.6% during the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock worth $76,277,000 after purchasing an additional 1,390,951 shares in the last quarter. Norges Bank acquired a new stake in shares of Tidewater during the fourth quarter worth approximately $32,388,000. Price T Rowe Associates Inc. MD raised its stake in shares of Tidewater by 20.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock valued at $126,180,000 after acquiring an additional 390,814 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tidewater by 22.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company’s stock worth $84,888,000 after acquiring an additional 286,097 shares in the last quarter. Finally, Encompass Capital Advisors LLC grew its position in Tidewater by 17.7% during the 4th quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company’s stock worth $86,569,000 after acquiring an additional 238,170 shares during the last quarter. Institutional investors and hedge funds 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.