Tidewater Inc. (TDW, Financial), a key player in the offshore energy support industry, experienced a notable stock price increase of 5.03%, reaching $57.40 per share. The trading volume was 544,204 shares with a turnover rate of 1.04% and a price fluctuation of 5.43%.
Recent financial reports indicate Tidewater achieved a revenue of $340 million, a net profit of $46.37 million, and earnings per share of $0.88. The company's gross profit stood at $98.37 million, with a price-to-earnings ratio of 16.81. Among the nine institutions rating the stock, 67% recommended a buy, while 33% suggested holding, with no sell recommendations.
Within the oil and gas equipment and services sector, which saw an overall increase of 1.67%, Tidewater's performance was notable. Other significant gainers in the sector included National Energy Services Reunited Corp, Solaris Energy Infrastructure, Inc., and NCS Multistage Holdings, Inc. Active stocks with high turnover rates were Solaris Energy Infrastructure, Inc. at 1.77%, Nine Energy Service at 1.70%, and Hua Shi Bo at 1.11%. Stocks with significant price fluctuations included Leishen Energy Holding Co., Ltd., Dawson Geophysical, and National Energy Services Reunited Corp.
Tidewater operates a diversified fleet of offshore service vessels, supporting offshore exploration, oilfield development, and production across major regions like the Americas, Asia-Pacific, the Middle East, Europe/Mediterranean, and West Africa, with most revenue from West Africa.
Notably, Evercore ISI Group downgraded Tidewater's rating from "outperform" to "in line with the market," adjusting the target price from $112 to $68.
