Shares of Tidewater Inc. (NYSE:TDW) gapped down prior to trading on Thursday . The stock had previously closed at $12.66, but opened at $12.17. Tidewater shares last traded at $12.18, with a volume of 928 shares traded.
Separately, Zacks Investment Research lowered Tidewater from a “hold” rating to a “sell” rating in a research report on Wednesday, March 17th.
The company has a debt-to-equity ratio of 0.29, a current ratio of 2.70 and a quick ratio of 2.59. The stock has a market capitalization of $502.84 million, a price-to-earnings ratio of -2.24 and a beta of 1.89. The stock has a 50-day moving average of $13.20 and a 200 day moving average of $9.87.
Tidewater (NYSE:TDW) last issued its earnings results on Thursday, March 4th. The oil and gas company reported ($0.57) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.02. Tidewater had a negative return on equity of 7.20% and a negative net margin of 53.51%. The firm had revenue of $91.86 million for the quarter, compared to analysts’ expectations of $84.10 million. During the same quarter last year, the business earned ($0.64) earnings per share. Sell-side analysts anticipate that Tidewater Inc. will post -1.09 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in TDW. Public Employees Retirement System of Ohio lifted its holdings in shares of Tidewater by 20.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,842 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 1,181 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Tidewater during the 4th quarter valued at about $98,000. SG Americas Securities LLC bought a new position in shares of Tidewater during the 4th quarter valued at about $100,000. Tudor Investment Corp Et Al bought a new position in shares of Tidewater during the 4th quarter valued at about $125,000. Finally, Credit Suisse AG bought a new position in shares of Tidewater during the 4th quarter valued at about $138,000. Institutional investors and hedge funds own 84.09% of the company’s stock.
About Tidewater (NYSE:TDW)
Tidewater Inc, together with its subsidiaries, provides offshore marine support and transportation services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore exploration, field development, and production, 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; and various specialized services, such as pipe and cable laying.
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