According to Zacks, “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. The Company tows and anchor-handles mobile drilling rigs and equipment, transports supplies and personnel, and supports pipe laying and other offshore construction activities. Its operating segment consists of Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. The company serves oil and natural gas exploration, field development, and production companies; independent exploration and production companies; government-owned or government-controlled organizations, and other companies; drilling contractors and other companies. Tidewater Inc. is headquartered in New Orleans, Louisiana. “
Separately, ValuEngine raised Tidewater from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st.
TDW opened at $15.66 on Friday. The firm has a market cap of $598.99 million, a price-to-earnings ratio of -2.43 and a beta of 1.58. Tidewater has a 52 week low of $13.60 and a 52 week high of $30.44. The business’s 50 day moving average is $15.72 and its two-hundred day moving average is $20.32. The company has a quick ratio of 4.15, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.
Tidewater (NYSE:TDW) last released its earnings results on Monday, August 12th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.86) by $0.44. The business had revenue of $125.86 million for the quarter, compared to analyst estimates of $131.77 million. Tidewater had a negative return on equity of 12.46% and a negative net margin of 34.78%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.44) earnings per share. Equities analysts expect that Tidewater will post -2.87 EPS for the current fiscal year.
In other Tidewater news, Director Kenneth H. Traub purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $17.67 per share, for a total transaction of $88,350.00. Following the completion of the purchase, the director now directly owns 27,088 shares in the company, valued at $478,644.96. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.
Several institutional investors have recently bought and sold shares of TDW. GSA Capital Partners LLP purchased a new stake in Tidewater during the second quarter worth $440,000. Charles Schwab Investment Management Inc. boosted its position in Tidewater by 7.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 398,829 shares of the oil and gas company’s stock worth $9,365,000 after purchasing an additional 28,027 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Tidewater by 20.8% during the second quarter. Bank of New York Mellon Corp now owns 176,921 shares of the oil and gas company’s stock worth $4,154,000 after purchasing an additional 30,456 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Tidewater during the second quarter worth $16,493,000. Finally, Schroder Investment Management Group purchased a new stake in Tidewater during the second quarter worth $871,000. Hedge funds and other institutional investors own 82.62% of the company’s stock.
Tidewater Company Profile
Tidewater Inc provides offshore marine support and transportation 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, and seismic and subsea support; and various specialized services, such as pipe and cable laying.
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