Tidewater (NYSE:TDW) Trading Down 6.4% – What’s Next?

Tidewater Inc. (NYSE:TDW) dropped 6.4% during mid-day trading on Tuesday . The stock traded as low as $52.37 and last traded at $52.8560. Approximately 167,606 shares were traded during trading, a decline of 83% from the average daily volume of 963,519 shares. The stock had previously closed at $56.48.

Analysts Set New Price Targets

A number of research analysts have commented on TDW shares. Fearnley Fonds upgraded Tidewater to a “hold” rating in a research report on Tuesday, September 16th. Dnb Nor Markets cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Evercore ISI decreased their price objective on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a report on Wednesday, November 12th. Zacks Research cut shares of Tidewater from a “hold” rating to a “strong sell” rating in a report on Thursday, November 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research report on Monday. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Tidewater has a consensus rating of “Hold” and a consensus target price of $67.50.

Tidewater Price Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 17.02 and a beta of 0.58. The company has a 50-day simple moving average of $53.09 and a two-hundred day simple moving average of $52.81.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.46 by ($0.48). The firm had revenue of $341.11 million for the quarter, compared to the consensus estimate of $328.84 million. Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 EPS. On average, equities research analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current year.

Hedge Funds Weigh In On Tidewater

Several hedge funds and other institutional investors have recently made changes to their positions in TDW. Cetera Investment Advisers acquired a new stake in Tidewater in the 1st quarter valued at approximately $325,000. Invesco Ltd. grew its stake in shares of Tidewater by 0.9% in the first quarter. Invesco Ltd. now owns 202,834 shares of the oil and gas company’s stock worth $8,574,000 after purchasing an additional 1,816 shares in the last quarter. Nuveen LLC acquired a new position in shares of Tidewater during the first quarter valued at $5,642,000. Russell Investments Group Ltd. raised its stake in shares of Tidewater by 48.8% during the first quarter. Russell Investments Group Ltd. now owns 82,130 shares of the oil and gas company’s stock valued at $3,472,000 after purchasing an additional 26,928 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Tidewater in the first quarter worth about $287,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Company Profile

Tidewater Inc, together with its subsidiaries, provides offshore support 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 oil and gas exploration, field development, and production, as well as windfarm development and maintenance, 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; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.