Tidewater (NYSE:TDW) Stock Price Up 3.2% – Still a Buy?

Tidewater Inc. (NYSE:TDW)’s share price was up 3.2% during trading on Wednesday . The company traded as high as $45.08 and last traded at $44.90. Approximately 94,788 shares traded hands during trading, a decline of 91% from the average daily volume of 1,009,354 shares. The stock had previously closed at $43.51.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TDW shares. Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. DNB Markets started coverage on shares of Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Pickering Energy Partners lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.

Tidewater Trading Down 0.7 %

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 business has a 50 day moving average of $49.00 and a 200-day moving average of $55.78. The firm has a market capitalization of $2.27 billion, a P/E ratio of 12.99 and a beta of 1.06.

Insider Transactions at Tidewater

In other news, Director Robert Robotti acquired 1,770 shares of Tidewater stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $40.95 per share, with a total value of $72,481.50. Following the completion of the transaction, the director now directly owns 2,183,670 shares of the company’s stock, valued at approximately $89,421,286.50. This represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Tidewater

Institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of Tidewater during the 4th quarter worth approximately $33,000. AlphaQuest LLC grew its position in Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 511 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Tidewater in the 4th quarter valued at $53,000. Quarry LP lifted its position in Tidewater by 187.6% during the 3rd quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock worth $58,000 after buying an additional 531 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock worth $58,000 after buying an additional 333 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

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.