Tidewater (NYSE:TDW) Sets New 52-Week Low – Time to Sell?

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

Wall Street Analyst Weigh In

TDW has been the subject of a number of analyst reports. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $131.00 to $102.00 in a report on Monday, November 11th. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.25.

Tidewater Trading Up 0.2 %

The company has a market cap of $2.63 billion, a PE ratio of 14.79 and a beta of 1.14. The company’s 50 day simple moving average is $63.19 and its two-hundred day simple moving average is $82.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

Tidewater declared that its board has authorized a share buyback program on Tuesday, August 6th that authorizes the company to buyback $13.90 million in shares. This buyback authorization authorizes the oil and gas company to buy up to 0.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Tidewater

Several institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its position in shares of Tidewater by 8.1% during the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock worth $257,000 after buying an additional 267 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in Tidewater by 30.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company’s stock valued at $1,220,000 after acquiring an additional 3,969 shares during the period. Neo Ivy Capital Management boosted its holdings in Tidewater by 22.5% during the 3rd quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company’s stock valued at $994,000 after acquiring an additional 2,544 shares during the period. Geode Capital Management LLC grew its position in Tidewater by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock valued at $78,473,000 after acquiring an additional 5,713 shares in the last quarter. Finally, Barclays PLC grew its position in Tidewater by 354.2% in the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock valued at $5,661,000 after acquiring an additional 61,487 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

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.