Tidewater (NYSE:TDW) Hits New 52-Week Low – Time to Sell?

Tidewater Inc. (NYSE:TDW) hit a new 52-week low during trading on Monday . The company traded as low as $50.64 and last traded at $50.89, with a volume of 144130 shares traded. The stock had previously closed at $50.73.

Wall Street Analyst Weigh In

TDW has been the topic of a number of analyst reports. Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $102.25.

Tidewater Stock Performance

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 firm’s 50 day simple moving average is $66.06 and its 200-day simple moving average is $85.45. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 14.92 and a beta of 1.14.

Tidewater declared that its board has approved a stock repurchase program on Tuesday, August 6th that authorizes the company to buyback $13.90 million in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Tidewater by 30.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company’s stock worth $1,220,000 after acquiring an additional 3,969 shares during the period. Neo Ivy Capital Management raised its holdings in shares of Tidewater by 22.5% during the 3rd quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company’s stock worth $994,000 after acquiring an additional 2,544 shares during the period. Geode Capital Management LLC raised its holdings in shares of Tidewater by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock worth $78,473,000 after acquiring an additional 5,713 shares during the period. Barclays PLC raised its holdings in shares of Tidewater by 354.2% during the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock worth $5,661,000 after acquiring an additional 61,487 shares during the period. Finally, O Brien Greene & Co. Inc raised its holdings in shares of Tidewater by 15.2% during the 3rd quarter. O Brien Greene & Co. Inc now owns 5,100 shares of the oil and gas company’s stock worth $366,000 after acquiring an additional 674 shares during the period. Hedge funds and other 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.