Tidewater Inc. (NYSE:TDW) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 975,000 shares, an increase of 23.1% from the July 31st total of 792,200 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average trading volume of 218,000 shares, the days-to-cover ratio is presently 4.5 days.

Shares of NYSE TDW traded up $0.17 during trading on Friday, reaching $17.73. 125,728 shares of the company traded hands, compared to its average volume of 195,591. The firm has a 50 day simple moving average of $17.81 and a 200-day simple moving average of $21.64. The company has a quick ratio of 4.15, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $656.05 million, a PE ratio of -2.75 and a beta of 1.59. Tidewater has a 52-week low of $14.48 and a 52-week high of $36.09.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Monday, August 12th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.44. The firm had revenue of $125.86 million for the quarter, compared to the consensus estimate of $131.77 million. Tidewater had a negative net margin of 34.78% and a negative return on equity of 12.46%. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.44) EPS. As a group, research analysts predict that Tidewater will post -2.87 EPS for the current year.

In related news, Director Kenneth H. Traub purchased 5,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of $17.67 per share, with a total value of $88,350.00. Following the acquisition, the director now directly owns 27,088 shares in the company, valued at approximately $478,644.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group purchased a new stake in shares of Tidewater during the 2nd quarter valued at about $871,000. Nuveen Asset Management LLC purchased a new position in shares of Tidewater in the second quarter worth approximately $16,493,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tidewater by 17.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,076,372 shares of the oil and gas company’s stock worth $72,233,000 after buying an additional 454,570 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Tidewater in the second quarter worth approximately $1,978,000. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Tidewater in the second quarter worth approximately $643,000. 82.60% of the stock is currently owned by hedge funds and other institutional investors.

Separately, ValuEngine raised shares of Tidewater from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st.

Tidewater Company Profile

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.

Further Reading: Return on Investment (ROI)

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.