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

Tidewater Inc. (NYSE:TDW) shares 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 were traded during trading, a decline of 91% from the average session volume of 1,009,354 shares. The stock had previously closed at $43.51.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and lowered their price objective for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, DNB Markets assumed coverage on shares of Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.

Tidewater Trading Down 0.7 %

The business has a 50 day simple moving average of $49.00 and a 200 day simple moving average of $55.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 12.99 and a beta of 1.06.

Insiders Place Their Bets

In related news, Director Robert Robotti purchased 1,770 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $40.95 per share, with a total value of $72,481.50. Following the completion of the purchase, the director now directly owns 2,183,670 shares of the company’s stock, valued at $89,421,286.50. This trade represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Tidewater by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company’s stock worth $300,155,000 after acquiring an additional 56,919 shares during the last quarter. Robotti Robert raised its holdings in Tidewater by 1.1% during the 4th quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company’s stock worth $144,050,000 after purchasing an additional 28,083 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Tidewater by 20.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock valued at $126,180,000 after purchasing an additional 390,814 shares during the period. State Street Corp boosted its stake in shares of Tidewater by 1.9% in the 3rd quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company’s stock valued at $134,044,000 after purchasing an additional 35,318 shares during the last quarter. Finally, Encompass Capital Advisors LLC grew its position in shares of Tidewater by 17.7% during the 4th quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company’s stock worth $86,569,000 after buying an additional 238,170 shares during the period. Institutional investors and hedge funds 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.