Tidewater (NYSE:TDW) Hits New 12-Month Low at $13.41

Tidewater Inc. (NYSE:TDW)’s share price hit a new 52-week low on Tuesday . The company traded as low as $13.41 and last traded at $13.66, with a volume of 2909 shares traded. The stock had previously closed at $13.74.

A number of brokerages have weighed in on TDW. Zacks Investment Research upgraded Tidewater from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Thursday, November 7th. TheStreet downgraded Tidewater from a “c-” rating to a “d+” rating in a report on Friday, October 18th. Finally, ValuEngine upgraded Tidewater from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st.

The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.90 and a current ratio of 4.03. The stock has a fifty day simple moving average of $15.51 and a two-hundred day simple moving average of $19.16. The stock has a market capitalization of $544.92 million, a price-to-earnings ratio of -2.12 and a beta of 1.60.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Monday, November 11th. The oil and gas company reported ($0.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.27). Tidewater had a negative return on equity of 14.51% and a negative net margin of 36.07%. The business had revenue of $119.80 million for the quarter, compared to analyst estimates of $122.87 million. During the same quarter in the previous year, the business posted ($0.41) earnings per share. The business’s revenue was up 20.8% on a year-over-year basis. Research analysts forecast that Tidewater Inc. will post -1.54 earnings per share for the current year.

In other Tidewater news, Director Kenneth H. Traub purchased 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was purchased at an average cost of $17.67 per share, for a total transaction of $88,350.00. Following the acquisition, the director now owns 27,088 shares in the company, valued at approximately $478,644.96. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have acquired 10,711 shares of company stock valued at $168,219. Company insiders own 0.47% of the company’s stock.

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A number of institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in Tidewater by 17.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,076,372 shares of the oil and gas company’s stock worth $72,233,000 after acquiring an additional 454,570 shares during the period. BlackRock Inc. grew its stake in shares of Tidewater by 19.4% in the 2nd quarter. BlackRock Inc. now owns 2,650,081 shares of the oil and gas company’s stock valued at $62,224,000 after buying an additional 431,361 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Tidewater in the 2nd quarter valued at about $16,493,000. Charles Schwab Investment Management Inc. grew its stake in shares of Tidewater by 7.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 398,829 shares of the oil and gas company’s stock valued at $9,365,000 after buying an additional 28,027 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Tidewater by 7.2% in the 2nd quarter. Northern Trust Corp now owns 394,799 shares of the oil and gas company’s stock valued at $9,269,000 after buying an additional 26,481 shares during the period. Hedge funds and other institutional investors own 83.24% of the company’s stock.

Tidewater Company Profile (NYSE:TDW)

Tidewater Inc 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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