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

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TDW. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and dropped their price objective for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. DNB Markets began coverage on shares of Tidewater in a report on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $131.00 to $102.00 in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $92.50.

Tidewater Stock Down 6.1 %

The stock’s 50-day moving average is $53.75 and its 200-day moving average is $61.85. The stock has a market cap of $2.39 billion, a P/E ratio of 13.42 and a beta of 1.04. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

Insider Activity at Tidewater

In other Tidewater news, CEO Quintin Kneen acquired 41,615 shares of Tidewater stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the transaction, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tidewater

Large investors have recently made changes to their positions in the business. Fortitude Family Office LLC bought a new position in shares of Tidewater during the 4th quarter valued at about $33,000. AlphaQuest LLC lifted its position in shares of Tidewater by 177.4% in 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 in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Tidewater in the fourth quarter worth approximately $53,000. Quarry LP lifted its position in shares of Tidewater by 187.6% in 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 in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Tidewater by 45.5% in 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 in the last quarter. Institutional investors 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.