Tidewater Inc. (NYSE:TDW) issued its quarterly earnings results on Monday. The oil and gas company reported ($0.94) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.29) by $0.35, Bloomberg Earnings reports. Tidewater had a negative return on equity of 8.48% and a negative net margin of 103.52%.
Tidewater (TDW) opened at 0.8003 on Tuesday. The company has a 50 day moving average price of $0.81 and a 200-day moving average price of $1.72. Tidewater has a 12 month low of $0.66 and a 12 month high of $5.47. The company’s market cap is $37.67 million.
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A number of hedge funds have recently modified their holdings of the company. UBS Asset Management Americas Inc. boosted its stake in shares of Tidewater by 339.4% in the first quarter. UBS Asset Management Americas Inc. now owns 135,629 shares of the oil and gas company’s stock worth $156,000 after buying an additional 104,759 shares during the period. Vanguard Group Inc. boosted its stake in shares of Tidewater by 12.3% in the first quarter. Vanguard Group Inc. now owns 2,351,863 shares of the oil and gas company’s stock worth $2,704,000 after buying an additional 257,958 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tidewater by 5.3% in the first quarter. Geode Capital Management LLC now owns 343,845 shares of the oil and gas company’s stock worth $395,000 after buying an additional 17,254 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Tidewater by 8.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,509,791 shares of the oil and gas company’s stock worth $1,737,000 after buying an additional 112,779 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Tidewater by 30.1% in the first quarter. Bank of America Corp DE now owns 365,137 shares of the oil and gas company’s stock worth $419,000 after buying an additional 84,428 shares during the period. 80.67% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research cut Tidewater from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $3.17.
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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