Tidewater (NYSE:TDW) Shares Gap Down to $22.48

Shares of Tidewater Inc. (NYSE:TDWGet Rating) gapped down prior to trading on Friday . The stock had previously closed at $22.48, but opened at $21.07. Tidewater shares last traded at $20.74, with a volume of 823 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. Evercore ISI reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Tidewater in a research report on Tuesday, September 6th.

Tidewater Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.64 and a current ratio of 1.76. The stock has a market cap of $893.16 million, a P/E ratio of -8.60 and a beta of 1.40. The firm has a 50-day moving average price of $21.72 and a 200-day moving average price of $22.02.

Insider Buying and Selling at Tidewater

In other Tidewater news, Director Robert Robotti acquired 560,224 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were acquired at an average price of $17.85 per share, for a total transaction of $9,999,998.40. Following the completion of the acquisition, the director now owns 2,669,271 shares in the company, valued at $47,646,487.35. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.15% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TDW. Moerus Capital Management LLC increased its position in shares of Tidewater by 15.6% during the first quarter. Moerus Capital Management LLC now owns 2,673,075 shares of the oil and gas company’s stock valued at $58,113,000 after acquiring an additional 360,433 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Tidewater by 12.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,075,799 shares of the oil and gas company’s stock worth $23,388,000 after buying an additional 121,346 shares during the last quarter. State Street Corp grew its holdings in shares of Tidewater by 10.9% in the second quarter. State Street Corp now owns 1,068,270 shares of the oil and gas company’s stock worth $22,530,000 after acquiring an additional 105,125 shares during the period. Flat Footed LLC purchased a new stake in Tidewater during the fourth quarter valued at $7,930,000. Finally, Northern Trust Corp lifted its holdings in Tidewater by 5.2% in the second quarter. Northern Trust Corp now owns 400,006 shares of the oil and gas company’s stock valued at $8,436,000 after acquiring an additional 19,653 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

About Tidewater

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Tidewater Inc, together with its subsidiaries, 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 oil and natural 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.

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