Tidewater (NYSE:TDW) Reaches New 12-Month Low – Time to Sell?

Tidewater Inc. (NYSE:TDW)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $49.85 and last traded at $49.97, with a volume of 406932 shares traded. The stock had previously closed at $52.16.

Analysts Set New Price Targets

A number of analysts recently weighed in on TDW shares. Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.25.

Tidewater Stock Performance

The firm has a market cap of $2.63 billion, a P/E ratio of 14.76 and a beta of 1.14. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The stock’s 50-day moving average price is $63.68 and its 200 day moving average price is $83.19.

Tidewater declared that its board has initiated a stock buyback plan on Tuesday, August 6th that allows the company to buyback $13.90 million in shares. This buyback authorization allows the oil and gas company to reacquire up to 0.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Tidewater

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its position in shares of Tidewater by 8.1% in the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 267 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Tidewater by 30.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company’s stock worth $1,220,000 after purchasing an additional 3,969 shares during the last quarter. Neo Ivy Capital Management lifted its position in Tidewater by 22.5% during the third quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company’s stock valued at $994,000 after buying an additional 2,544 shares during the period. Geode Capital Management LLC grew its stake in shares of Tidewater by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock worth $78,473,000 after buying an additional 5,713 shares during the last quarter. Finally, Barclays PLC increased its position in Tidewater by 354.2% during the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock valued at $5,661,000 after buying an additional 61,487 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

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.