Tidewater (TDW) Sets New 52-Week Low at $23.36

Tidewater Inc. (NYSE:TDW) hit a new 52-week low during trading on Friday . The company traded as low as $23.36 and last traded at $23.78, with a volume of 2317 shares changing hands. The stock had previously closed at $24.05.

Separately, ValuEngine upgraded Tidewater from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd.

The company has a quick ratio of 4.82, a current ratio of 5.00 and a debt-to-equity ratio of 0.46.

Tidewater (NYSE:TDW) last posted its earnings results on Tuesday, November 13th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.09). Tidewater had a negative net margin of 26.10% and a negative return on equity of 8.31%. The company had revenue of $99.19 million during the quarter, compared to the consensus estimate of $103.39 million. During the same quarter in the prior year, the business earned ($0.81) EPS. Sell-side analysts forecast that Tidewater Inc. will post -2.14 EPS for the current fiscal year.

In other news, CFO Quinn P. Fanning sold 16,623 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $32.00, for a total value of $531,936.00. Following the transaction, the chief financial officer now owns 153,600 shares in the company, valued at $4,915,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Tidewater by 12.1% in the third quarter. Vanguard Group Inc. now owns 1,171,737 shares of the oil and gas company’s stock valued at $36,269,000 after purchasing an additional 126,839 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Tidewater by 8.4% in the third quarter. TIAA CREF Investment Management LLC now owns 56,979 shares of the oil and gas company’s stock valued at $1,777,000 after purchasing an additional 4,429 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of Tidewater by 5.6% in the third quarter. Teachers Advisors LLC now owns 48,352 shares of the oil and gas company’s stock valued at $1,508,000 after purchasing an additional 2,577 shares in the last quarter. Virginia National Bank bought a new position in shares of Tidewater in the third quarter valued at approximately $1,290,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Tidewater in the third quarter valued at approximately $547,000. Institutional investors own 82.79% of the company’s stock.

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Tidewater Company Profile (NYSE:TDW)

Tidewater Inc provides offshore service 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 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, remotely operated vehicle (ROV) operations, and seismic and subsea support; and various specialized services, such as pipe and cable laying.

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