Tidewater (NYSE:TDW) Stock Price Down 4.8% – Time to Sell?

Tidewater Inc. (NYSE:TDW)’s stock price dropped 4.8% during trading on Friday . The company traded as low as $47.40 and last traded at $47.50. Approximately 116,376 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 901,758 shares. The stock had previously closed at $49.90.

Analysts Set New Price Targets

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

Tidewater Stock Down 4.7 %

The firm has a market capitalization of $2.49 billion, a PE ratio of 14.67 and a beta of 1.10. The company has a fifty day moving average price of $59.85 and a 200-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 Trading of Tidewater

A number of hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky acquired a new stake in Tidewater in the second quarter worth about $1,241,000. Raymond James & Associates increased its position in shares of Tidewater by 11.9% in the 3rd quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company’s stock valued at $6,725,000 after acquiring an additional 9,952 shares during the period. Public Sector Pension Investment Board acquired a new stake in Tidewater during the 2nd quarter worth about $10,171,000. Naviter Wealth LLC grew its stake in Tidewater by 48.7% during the 3rd quarter. Naviter Wealth LLC now owns 126,050 shares of the oil and gas company’s stock valued at $9,049,000 after purchasing an additional 41,256 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Tidewater in the second quarter valued at about $1,477,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

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.