Tidewater (NYSE:TDW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday.
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. “
NYSE:TDW opened at $32.55 on Friday. The company has a quick ratio of 3.71, a current ratio of 3.84 and a debt-to-equity ratio of 0.43. Tidewater has a 12-month low of $20.37 and a 12-month high of $32.79.
Several hedge funds have recently made changes to their positions in TDW. Raynor Geoffrey lifted its holdings in shares of Tidewater by 102.0% during the 4th quarter. Raynor Geoffrey now owns 406,778 shares of the oil and gas company’s stock worth $9,925,000 after acquiring an additional 205,358 shares during the period. Geode Capital Management LLC purchased a new position in shares of Tidewater during the 4th quarter worth about $3,822,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Tidewater during the 3rd quarter worth about $3,847,000. Two Sigma Investments LP lifted its holdings in shares of Tidewater by 220.2% during the 4th quarter. Two Sigma Investments LP now owns 119,694 shares of the oil and gas company’s stock worth $2,921,000 after acquiring an additional 82,308 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Tidewater by 1,875.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 75,495 shares of the oil and gas company’s stock worth $2,189,000 after acquiring an additional 71,673 shares during the period. Institutional investors and hedge funds own 68.90% of the company’s stock.
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Tidewater Company Profile
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 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, remotely operated vehicle (ROV) operations, and seismic and subsea support; and various specialized services, such as pipe and cable laying.
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