Tidewater (NYSE:TDW) Shares Up 3.2% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Pickering Energy Partners lowered 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 cut their target price for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Finally, DNB Markets started coverage on shares of Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tidewater currently has a consensus rating of “Moderate Buy” and an average price target of $92.50.

Tidewater Stock Performance

The stock’s 50-day simple moving average is $49.47 and its two-hundred day simple moving average is $55.94. 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 stock has a market cap of $2.28 billion, a price-to-earnings ratio of 13.05 and a beta of 1.06.

Insider Activity at Tidewater

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

Institutional Trading of Tidewater

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Tidewater by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company’s stock worth $300,155,000 after buying an additional 56,919 shares in the last quarter. Robotti Robert increased its position in Tidewater by 1.1% in the 4th quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company’s stock valued at $144,050,000 after acquiring an additional 28,083 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Tidewater by 20.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock worth $126,180,000 after acquiring an additional 390,814 shares during the last quarter. State Street Corp lifted its position in shares of Tidewater by 1.9% during the third quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company’s stock worth $134,044,000 after purchasing an additional 35,318 shares in the last quarter. Finally, Encompass Capital Advisors LLC grew its stake in shares of Tidewater by 17.7% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company’s stock valued at $86,569,000 after purchasing an additional 238,170 shares during 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.