Tidewater (NYSE:TDW) Sets New 1-Year Low – Should You Sell?

Tidewater Inc. (NYSE:TDW)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $49.85 and last traded at $49.97, with a volume of 406932 shares. The stock had previously closed at $52.16.

Analyst Ratings Changes

Several analysts have issued reports on the company. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $131.00 to $102.00 in a research report on Monday, November 11th. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Tidewater presently has an average rating of “Moderate Buy” and an average price target of $102.25.

Tidewater Stock Performance

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 firm has a fifty day moving average of $63.68 and a 200 day moving average of $83.19. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 14.76 and a beta of 1.14.

Tidewater declared that its Board of Directors has initiated a share repurchase program on Tuesday, August 6th that permits the company to repurchase $13.90 million in shares. This repurchase authorization permits the oil and gas company to reacquire up to 0.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Tidewater

Institutional investors and hedge funds have recently modified their holdings of the company. Boston Partners boosted its holdings in shares of Tidewater by 11.7% in the first quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after acquiring an additional 243,489 shares in the last quarter. State Street Corp boosted its position in shares of Tidewater by 1.9% during the 3rd quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company’s stock worth $134,044,000 after purchasing an additional 35,318 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tidewater by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock worth $78,473,000 after purchasing an additional 5,713 shares during the period. Van ECK Associates Corp purchased a new position in shares of Tidewater in the 3rd quarter valued at about $51,089,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Tidewater by 11,317.3% in the second quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock valued at $60,992,000 after purchasing an additional 639,765 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.