Tidewater Inc. (NYSE:TDW) shares dropped 4.2% during trading on Monday . The stock traded as low as $4.04 and last traded at $4.09, with a volume of 838,901 shares. The stock had previously closed at $4.27.

TDW has been the subject of several research reports. Zacks Investment Research cut Tidewater from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. Argus reaffirmed a “hold” rating on shares of Tidewater in a research report on Friday, July 8th. Finally, Iberia Capital cut Tidewater from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $8.00 to $4.00 in a research report on Friday, May 27th. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. Tidewater presently has an average rating of “Hold” and an average target price of $12.00.

The firm’s market capitalization is $184.27 million. The firm’s 50 day moving average price is $4.60 and its 200 day moving average price is $5.99.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Wednesday, May 25th. The company reported ($1.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by $1.15. The company earned $184.17 million during the quarter, compared to analyst estimates of $192.39 million. Tidewater’s revenue for the quarter was down 43.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. Equities research analysts predict that Tidewater Inc. will post ($3.39) EPS for the current year.

A hedge fund recently raised its stake in Tidewater stock. New York State Common Retirement Fund increased its position in shares of Tidewater Inc. (NYSE:TDW) by 27.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 226,965 shares of the company’s stock after buying an additional 48,445 shares during the period. New York State Common Retirement Fund owned approximately 0.48% of Tidewater worth $1,580,000 at the end of the most recent quarter.

Tidewater Inc provides offshore service vessels and marine support services to the global offshore energy industry. The Company operates through four operating segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. The Americas segment includes the activities of its North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations in Mexico, Trinidad and Brazil.

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