Tidewater (NYSE:TDW) Sets New 52-Week Low – What’s Next?

Tidewater Inc. (NYSE:TDW) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $44.00 and last traded at $44.61, with a volume of 535407 shares traded. The stock had previously closed at $48.60.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Pickering Energy Partners downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Evercore ISI downgraded shares of Tidewater from an “outperform” rating to an “in-line” rating and decreased their target price for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $131.00 to $102.00 in a research note on Monday, November 11th. DNB Markets initiated coverage on shares of Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 target price for the company. Finally, StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Tidewater currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

Tidewater Stock Down 6.1 %

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 stock has a market capitalization of $2.39 billion, a P/E ratio of 13.42 and a beta of 1.04. The stock’s 50 day simple moving average is $53.75 and its 200 day simple moving average is $61.85.

Insider Buying and Selling at Tidewater

In related news, CEO Quintin Kneen acquired 41,615 shares of Tidewater stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the purchase, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at $8,470,046.34. The trade was a 30.91 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TDW. Fortitude Family Office LLC bought a new position in Tidewater during the 4th quarter valued at $33,000. AlphaQuest LLC raised its holdings in shares of Tidewater by 177.4% during the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 511 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Tidewater during the fourth quarter worth $53,000. Quarry LP raised its holdings in shares of Tidewater by 187.6% during the third quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 531 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Tidewater by 45.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 333 shares during the period. 95.13% of the stock is currently owned by institutional investors.

About Tidewater

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.