Tidewater Inc. (TDW) Sees Unusually-High Trading Volume
Tidewater Inc. (NYSE:TDW) shares saw strong trading volume on Thursday . 1,259,204 shares changed hands during trading, an increase of 652% from the previous session’s volume of 167,516 shares.The stock last traded at $25.04 and had previously closed at $25.02.
A number of equities research analysts have recently issued reports on the company. BidaskClub lowered Tidewater from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Clarkson Capital raised Tidewater from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 15th. Finally, Zacks Investment Research lowered Tidewater from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd.
The company has a debt-to-equity ratio of 0.43, a current ratio of 3.36 and a quick ratio of 3.24.
Tidewater (NYSE:TDW) last issued its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($38.80) by $37.99. The business had revenue of $74.30 million for the quarter, compared to analysts’ expectations of $112.90 million. During the same quarter in the prior year, the firm posted ($31.73) EPS. The business’s quarterly revenue was down 48.3% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the company. Deltec Asset Management LLC purchased a new position in shares of Tidewater during the second quarter valued at $114,000. Public Employees Retirement System of Ohio grew its holdings in shares of Tidewater by 98.6% during the first quarter. Public Employees Retirement System of Ohio now owns 106,929 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 53,093 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Tidewater by 502.8% during the first quarter. JPMorgan Chase & Co. now owns 115,513 shares of the oil and gas company’s stock valued at $133,000 after buying an additional 96,350 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Tidewater by 339.4% during the first quarter. UBS Asset Management Americas Inc. now owns 135,629 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 104,759 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Tidewater during the second quarter valued at $188,000. Institutional investors and hedge funds own 3.83% of the company’s stock.
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Tidewater Company Profile
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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