Tidewater (NYSE:TDW) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Tidewater Inc. (NYSE:TDWGet Free Report)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $69.30 and traded as high as $75.04. Tidewater shares last traded at $73.4150, with a volume of 708,374 shares trading hands.

Wall Street Analysts Forecast Growth

TDW has been the subject of several recent analyst reports. Barclays raised their target price on Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Raymond James Financial set a $117.00 price target on Tidewater in a report on Tuesday, March 3rd. Finally, Dawson James reaffirmed an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.33.

Check Out Our Latest Report on TDW

Tidewater Stock Down 1.7%

The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48. The stock’s 50-day moving average price is $82.61 and its 200-day moving average price is $69.30. The company has a market cap of $3.65 billion, a P/E ratio of 12.30 and a beta of 0.57.

Tidewater (NYSE:TDWGet Free Report) last issued its earnings results on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The firm had revenue of $326.22 million during the quarter, compared to the consensus estimate of $322.83 million. During the same period in the previous year, the firm earned $0.83 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, research analysts forecast that Tidewater Inc. will post 3.52 EPS for the current year.

Insider Activity at Tidewater

In other news, EVP Daniel A. Hudson sold 5,195 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $80.56, for a total transaction of $418,509.20. Following the transaction, the executive vice president directly owned 45,971 shares of the company’s stock, valued at $3,703,423.76. This represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samuel R. Rubio sold 22,461 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the transaction, the executive vice president owned 60,066 shares in the company, valued at approximately $4,808,283.30. This represents a 27.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Blue Trust Inc. acquired a new position in shares of Tidewater during the first quarter valued at about $26,000. Blume Capital Management Inc. raised its holdings in shares of Tidewater by 128.3% in the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Tidewater by 401.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 413 shares in the last quarter. Clearstead Advisors LLC lifted its position in Tidewater by 22.2% in the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 158 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Tidewater by 701.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Company Profile

(Get Free Report)

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.

Further Reading

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