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.
COPYRIGHT VIOLATION NOTICE: “Tidewater (TDW) Rating Lowered to Hold at Zacks Investment Research” was originally published by Week Herald and is owned by of Week Herald. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://weekherald.com/2018/04/16/tidewater-tdw-rating-lowered-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tidewater Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tidewater and related companies with MarketBeat.com's FREE daily email newsletter.