Private Advisor Group LLC Acquires 600 Shares of Tidewater Inc. (NYSE:TDW)

Private Advisor Group LLC raised its holdings in shares of Tidewater Inc. (NYSE:TDW) by 14.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,852 shares of the oil and gas company’s stock after purchasing an additional 600 shares during the quarter. Private Advisor Group LLC’s holdings in Tidewater were worth $348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Tidewater by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock valued at $442,956,000 after acquiring an additional 985,398 shares during the last quarter. Boston Partners increased its position in shares of Tidewater by 11.7% in the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after buying an additional 243,489 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Tidewater by 11,317.3% in the 2nd quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock valued at $60,992,000 after buying an additional 639,765 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Tidewater by 72.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company’s stock valued at $42,257,000 after buying an additional 185,972 shares in the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new stake in shares of Tidewater in the 1st quarter valued at $34,898,000. Institutional investors own 95.13% of the company’s stock.

Tidewater Price Performance

TDW stock opened at $60.70 on Wednesday. The stock has a 50-day moving average price of $70.94 and a two-hundred day moving average price of $87.71. The stock has a market cap of $3.19 billion, a PE ratio of 20.03 and a beta of 1.14. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. Tidewater Inc. has a 1 year low of $54.53 and a 1 year high of $111.42.

Tidewater (NYSE:TDW) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.22. The firm had revenue of $339.20 million during the quarter, compared to analysts’ expectations of $331.85 million. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The company’s revenue was up 57.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. Equities analysts forecast that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

Tidewater declared that its board has approved a share buyback program on Tuesday, August 6th that allows the company to buyback $13.90 million in shares. This buyback authorization allows the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

TDW has been the subject of a number of recent analyst reports. StockNews.com cut shares of Tidewater from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th. Raymond James upped their price objective on shares of Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tidewater currently has an average rating of “Moderate Buy” and a consensus price target of $111.25.

Tidewater Company Profile

Tidewater Inc, together with its subsidiaries, provides offshore support 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 oil and 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.