Tidewater (NYSE:TDW) Trading Down 4.8% - Here's What Happened

Tidewater Inc. (NYSE:TDW - Get Free Report)'s share price was down 4.8% during mid-day trading on Friday . The company traded as low as $47.40 and last traded at $47.50. Approximately 116,376 shares traded hands during trading, a decline of 87% from the average daily volume of 901,758 shares. The stock had previously closed at $49.90.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. DNB Markets began coverage on shares of Tidewater in a research report on Friday, November 29th. They issued a "buy" rating and a $70.00 target price for the company. StockNews.com raised shares of Tidewater from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, Raymond James cut Tidewater from a "strong-buy" rating to an "outperform" rating and cut their price objective for the company from $131.00 to $102.00 in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $95.80.

Tidewater Stock Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The business's 50-day moving average is $59.35 and its 200-day moving average is $79.83. The company has a market capitalization of $2.46 billion, a PE ratio of 13.82 and a beta of 1.10.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company's stock worth $25,000 after buying an additional 153 shares during the last quarter. Quarry LP purchased a new position in Tidewater in the 2nd quarter worth approximately $27,000. Hollencrest Capital Management bought a new position in Tidewater in the 2nd quarter valued at approximately $30,000. Northwest & Ethical Investments L.P. purchased a new stake in Tidewater during the 3rd quarter valued at $65,000. Finally, Headlands Technologies LLC increased its holdings in shares of Tidewater by 6,322.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company's stock worth $110,000 after purchasing an additional 1,138 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

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.