Tidewater (NYSE:TDW) Stock Price Up 2.6% – Time to Buy?

Shares of Tidewater Inc. (NYSE:TDW) shot up 2.6% during mid-day trading on Monday . The stock traded as high as $52.91 and last traded at $52.80. 333,536 shares were traded during trading, a decline of 64% from the average session volume of 927,830 shares. The stock had previously closed at $51.47.

Analyst Ratings Changes

TDW has been the subject of several research analyst reports. DNB Markets began coverage on Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 target price for the company. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $131.00 to $102.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Tidewater currently has an average rating of “Moderate Buy” and an average price target of $95.80.

Tidewater Price Performance

The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 15.89 and a beta of 1.10. 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 price of $53.71 and a two-hundred day moving average price of $74.26.

Insider Activity at Tidewater

In related news, CEO Quintin Kneen purchased 41,615 shares of the company’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost 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 of the company’s stock, valued at $8,470,046.34. This represents a 30.91 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 8.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tidewater

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Tidewater during the 2nd quarter valued at about $27,000. Hollencrest Capital Management acquired a new stake in shares of Tidewater during the 2nd quarter valued at $30,000. GAMMA Investing LLC grew its holdings in shares of Tidewater by 163.5% in the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 435 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Tidewater during the third quarter worth $65,000. Finally, Headlands Technologies LLC lifted its holdings in shares of Tidewater by 6,322.2% during the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,138 shares during 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.