Tidewater (NYSE:TDW) Reaches New 1-Year Low – What’s Next?

Shares of Tidewater Inc. (NYSE:TDW) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $38.26 and last traded at $38.65, with a volume of 399722 shares changing hands. The stock had previously closed at $43.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TDW shares. 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 downgraded Tidewater from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Tidewater Stock Down 12.9 %

The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 11.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The business’s 50 day moving average is $47.99 and its 200-day moving average is $54.89.

Insider Activity

In other Tidewater news, Director Robert Robotti bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the purchase, the director now directly owns 2,208,670 shares in the company, valued at $88,589,753.70. This trade represents a 1.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TDW. Charles Schwab Investment Management Inc. increased its position in Tidewater by 9.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,517 shares of the oil and gas company’s stock worth $31,194,000 after acquiring an additional 38,411 shares during the period. Citigroup Inc. raised its position in shares of Tidewater by 75.2% during the third quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company’s stock valued at $4,193,000 after buying an additional 25,064 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Tidewater by 53.6% in the third quarter. BNP Paribas Financial Markets now owns 25,739 shares of the oil and gas company’s stock valued at $1,848,000 after buying an additional 8,978 shares during the period. Glenmede Trust Co. NA grew its position in Tidewater by 3.5% during the third quarter. Glenmede Trust Co. NA now owns 9,479 shares of the oil and gas company’s stock worth $680,000 after buying an additional 321 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tidewater by 3.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,577 shares of the oil and gas company’s stock valued at $2,841,000 after acquiring an additional 1,168 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.