Tidewater (NYSE:TDW) Trading Up 3.5% – Still a Buy?

Tidewater Inc. (NYSE:TDW) shares rose 3.5% on Friday . The stock traded as high as $50.38 and last traded at $50.38. Approximately 173,861 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 917,010 shares. The stock had previously closed at $48.68.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TDW shares. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $131.00 to $102.00 in a research report on Monday, November 11th. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, DNB Markets started coverage on Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 price target for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.80.

Tidewater Price Performance

The stock has a market capitalization of $2.56 billion, a PE ratio of 14.41 and a beta of 1.10. The business’s 50-day moving average price is $55.02 and its 200 day moving average price is $76.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29.

Insider Buying and Selling

In related news, CEO Quintin Kneen bought 41,615 shares of the company’s stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the transaction, the chief executive officer now directly owns 176,239 shares in the company, valued at $8,470,046.34. This trade represents a 30.91 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.33% of the stock is owned by company insiders.

Institutional Trading of Tidewater

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in Tidewater in the second quarter valued at $27,000. Hollencrest Capital Management purchased a new position in shares of Tidewater in the 2nd quarter worth about $30,000. GAMMA Investing LLC increased its position in shares of Tidewater by 163.5% during the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 435 shares during the last quarter. Northwest & Ethical Investments L.P. purchased a new position in shares of Tidewater during the 3rd quarter valued at about $65,000. Finally, Headlands Technologies LLC lifted its position in Tidewater by 6,322.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,138 shares during the last quarter. Hedge funds and other 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.