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, TheStreet lowered shares of Tidewater from a c- rating to a d+ rating in a research report on Friday, October 18th.
Tidewater (NYSE:TDW) last posted its earnings results on Monday, November 11th. The oil and gas company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.27). The company had revenue of $119.80 million for the quarter, compared to analyst estimates of $122.87 million. Tidewater had a negative return on equity of 14.51% and a negative net margin of 36.07%. The firm’s revenue was up 20.8% on a year-over-year basis. During the same period last year, the business earned ($0.41) earnings per share. As a group, equities research analysts anticipate that Tidewater will post -1.54 EPS for the current fiscal year.
In other news, Director Robert P. Tamburrino acquired 5,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $14.00 per share, for a total transaction of $70,000.00. Following the acquisition, the director now owns 20,626 shares of the company’s stock, valued at approximately $288,764. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 10,711 shares of company stock worth $168,219 in the last 90 days. 0.47% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in Tidewater during the second quarter worth approximately $440,000. Rhumbline Advisers increased its stake in shares of Tidewater by 8.8% in the 3rd quarter. Rhumbline Advisers now owns 60,370 shares of the oil and gas company’s stock worth $912,000 after acquiring an additional 4,903 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Tidewater by 7.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 398,829 shares of the oil and gas company’s stock worth $9,365,000 after acquiring an additional 28,027 shares during the period. BlackRock Inc. raised its holdings in shares of Tidewater by 19.4% during the 2nd quarter. BlackRock Inc. now owns 2,650,081 shares of the oil and gas company’s stock worth $62,224,000 after acquiring an additional 431,361 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Tidewater by 20.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 176,921 shares of the oil and gas company’s stock valued at $4,154,000 after acquiring an additional 30,456 shares during the last quarter. Institutional investors and hedge funds own 84.41% of the company’s stock.
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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