Shares of Tidewater Inc. (NYSE:TDW) gapped down before the market opened 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 changing hands.
Separately, Zacks Investment Research lowered shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, March 17th.
The company has a market cap of $502.84 million, a price-to-earnings ratio of -2.24 and a beta of 1.89. The company has a current ratio of 2.70, a quick ratio of 2.59 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average price of $13.20 and a two-hundred day moving average price 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 for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.02. The company had revenue of $91.86 million for the quarter, compared to the consensus estimate of $84.10 million. Tidewater had a negative return on equity of 7.20% and a negative net margin of 53.51%. During the same quarter in the prior year, the company earned ($0.64) EPS. On average, analysts anticipate that Tidewater Inc. will post -1.09 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its holdings in Tidewater by 20.9% during the third 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 during the last quarter. Metropolitan Life Insurance Co NY grew its holdings in Tidewater by 15.8% during the first quarter. Metropolitan Life Insurance Co NY now owns 9,686 shares of the oil and gas company’s stock valued at $224,000 after purchasing an additional 1,320 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Tidewater by 8.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,732 shares of the oil and gas company’s stock valued at $222,000 after purchasing an additional 1,980 shares during the last quarter. State Street Corp grew its holdings in Tidewater by 0.3% during the third quarter. State Street Corp now owns 737,810 shares of the oil and gas company’s stock valued at $4,951,000 after purchasing an additional 2,043 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Tidewater by 3.0% in the fourth quarter. Victory Capital Management Inc. now owns 70,152 shares of the oil and gas company’s stock valued at $606,000 after acquiring an additional 2,049 shares during the period. Hedge funds and other institutional investors 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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