Tidewater (NYSE:TDW) Trading Down 4.9% - Here's What Happened

Tidewater Inc. (NYSE:TDW - Get Free Report)'s stock price was down 4.9% during mid-day trading on Monday . The stock traded as low as $33.55 and last traded at $33.62. Approximately 626,578 shares were traded during trading, a decline of 49% from the average daily volume of 1,233,241 shares. The stock had previously closed at $35.34.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Pickering Energy Partners cut Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Evercore ISI lowered Tidewater from an "outperform" rating to an "in-line" rating and reduced their target price for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Tidewater currently has an average rating of "Moderate Buy" and an average price target of $92.50.

Tidewater Stock Up 6.3 %

The company has a 50 day moving average of $42.35 and a 200-day moving average of $51.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The company has a market cap of $1.76 billion, a P/E ratio of 10.09 and a beta of 0.70.

Insider Activity

In related news, Director Robert Robotti bought 25,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the purchase, the director now directly owns 2,208,670 shares of the company's stock, valued at $88,589,753.70. This trade represents a 1.14 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 8.33% of the company's stock.

Hedge Funds Weigh In On Tidewater

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hodges Capital Management Inc. lifted its holdings in shares of Tidewater by 103.0% during the 4th quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company's stock worth $5,288,000 after acquiring an additional 49,050 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Tidewater by 23.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company's stock worth $8,431,000 after purchasing an additional 29,721 shares during the last quarter. Barclays PLC boosted its holdings in shares of Tidewater by 354.2% in the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock worth $5,661,000 after purchasing an additional 61,487 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Tidewater by 42,719.6% during the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company's stock valued at $76,277,000 after purchasing an additional 1,390,951 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new position in shares of Tidewater during the 4th quarter valued at about $704,000. 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.