Tidewater (NYSE:TDW) Trading Down 3.6%

Tidewater Inc. (NYSE:TDWGet Free Report)’s share price was down 3.6% during mid-day trading on Wednesday . The stock traded as low as $58.52 and last traded at $58.59. Approximately 468,626 shares changed hands during trading, a decline of 42% from the average daily volume of 811,210 shares. The stock had previously closed at $60.75.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BTIG Research boosted their price target on Tidewater from $75.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, September 20th. StockNews.com downgraded shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.67.

Get Our Latest Analysis on TDW

Tidewater Stock Performance

The company’s fifty day moving average price is $67.12 and its two-hundred day moving average price is $58.56. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.65 and a current ratio of 1.73. The firm has a market capitalization of $2.97 billion, a PE ratio of 42.26 and a beta of 1.33.

Insider Buying and Selling

In related news, Director Robert Robotti purchased 1,486 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were bought at an average price of $67.32 per share, for a total transaction of $100,037.52. Following the acquisition, the director now directly owns 3,235,657 shares in the company, valued at $217,824,429.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tidewater

A number of hedge funds have recently made changes to their positions in TDW. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Tidewater during the 1st quarter valued at $44,000. FNY Investment Advisers LLC acquired a new stake in shares of Tidewater during the third quarter valued at about $71,000. Tower Research Capital LLC TRC increased its position in shares of Tidewater by 36.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,021 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 270 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Tidewater by 59.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,094 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 410 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Tidewater during the 1st quarter valued at approximately $52,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Tidewater Company Profile

(Get Free Report)

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 crude oil and natural 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.

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