Tidewater (NYSE:TDW) Stock Price Up 3.5% – What’s Next?

Tidewater Inc. (NYSE:TDW) shares traded up 3.5% during mid-day trading on Friday . The stock traded as high as $50.38 and last traded at $50.38. 173,861 shares changed hands during trading, a decline of 81% from the average session volume of 917,010 shares. The stock had previously closed at $48.68.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $131.00 to $102.00 in a research note on Monday, November 11th. Finally, DNB Markets assumed coverage on shares of Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 price target on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.80.

Tidewater Trading Up 3.0 %

The stock has a market cap of $2.62 billion, a PE ratio of 14.75 and a beta of 1.10. The firm has a 50-day moving average price of $55.40 and a 200-day moving average price of $76.59. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29.

Insider Activity at Tidewater

In related news, CEO Quintin Kneen acquired 41,615 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the acquisition, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in Tidewater during the second quarter valued at about $27,000. Hollencrest Capital Management bought a new position in shares of Tidewater during the 2nd quarter valued at approximately $30,000. GAMMA Investing LLC increased its holdings in 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 in the last quarter. Northwest & Ethical Investments L.P. purchased a new position in Tidewater during the third quarter valued at approximately $65,000. Finally, Headlands Technologies LLC boosted its position in shares of Tidewater by 6,322.2% in the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after purchasing an additional 1,138 shares during the period. Institutional investors own 95.13% of the company’s stock.

About Tidewater

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.