Tidewater (NYSE:TDW) Sets New 12-Month Low – What’s Next?

Tidewater Inc. (NYSE:TDW)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $49.71 and last traded at $49.94, with a volume of 419568 shares changing hands. The stock had previously closed at $51.83.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TDW shares. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $131.00 to $102.00 in a report on Monday, November 11th. DNB Markets started coverage on Tidewater in a report on Friday, November 29th. They issued a “buy” rating and a $70.00 price target for the company. Finally, StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.80.

Tidewater Stock Performance

The company has a market capitalization of $2.46 billion, a P/E ratio of 13.73 and a beta of 1.10. The firm has a 50 day moving average price of $59.85 and a two-hundred day moving average price of $80.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29.

Institutional Investors Weigh In On Tidewater

Several large investors have recently modified their holdings of TDW. GAMMA Investing LLC grew its position in Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 153 shares during the last quarter. Quarry LP bought a new stake in Tidewater during the 2nd quarter worth approximately $27,000. Hollencrest Capital Management bought a new stake in Tidewater during the 2nd quarter worth approximately $30,000. Northwest & Ethical Investments L.P. bought a new stake in Tidewater during the 3rd quarter worth approximately $65,000. Finally, Headlands Technologies LLC grew its position in Tidewater by 6,322.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 1,138 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

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.