Tidewater Inc (TDW) Sees Strong Trading Volume
Tidewater Inc (NYSE:TDW) saw an uptick in trading volume on Friday . 1,827,389 shares were traded during trading, an increase of 1,481% from the previous session’s volume of 115,597 shares.The stock last traded at $29.23 and had previously closed at $29.12.
Several research firms have recently commented on TDW. BidaskClub upgraded shares of Tidewater from a “strong sell” rating to a “sell” rating in a report on Saturday, August 5th. Clarkson Capital raised shares of Tidewater from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 15th. Finally, Zacks Investment Research lowered shares of Tidewater from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $1.00.
The stock’s 50 day moving average is $25.72 and its 200-day moving average is $27.83. The firm’s market capitalization is $1.38 billion.
Tidewater (NYSE:TDW) last released its earnings results on Monday, June 12th. The oil and gas company reported ($0.94) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.35. The business had revenue of $160.75 million during the quarter, compared to the consensus estimate of $118.75 million. On average, equities research analysts forecast that Tidewater Inc will post ($143.64) earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the business. Alta Fundamental Advisers LLC acquired a new stake in Tidewater in the second quarter valued at $1,023,000. Q Global Advisors LLC acquired a new stake in Tidewater in the 2nd quarter worth about $835,000. Arrowstreet Capital Limited Partnership acquired a new stake in Tidewater in the 2nd quarter worth about $188,000. Cubist Systematic Strategies LLC acquired a new stake in Tidewater in the 2nd quarter worth about $228,000. Finally, California Public Employees Retirement System raised its stake in Tidewater by 1.7% in the 2nd quarter. California Public Employees Retirement System now owns 1,391,746 shares of the oil and gas company’s stock worth $1,002,000 after purchasing an additional 23,700 shares in the last quarter.
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Tidewater Inc provides offshore service vessels and marine support services. The Company operates through four segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. Its Americas segment includes the activities of the Company’s 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 of offshore Mexico, Trinidad and Brazil.
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