Bradley Foster & Sargent Inc. CT Takes $1.09 Million Position in Tidewater Inc. (NYSE:TDW)

Bradley Foster & Sargent Inc. CT bought a new stake in Tidewater Inc. (NYSE:TDW) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,482 shares of the oil and gas company’s stock, valued at approximately $1,093,000.

A number of other large investors have also added to or reduced their stakes in TDW. GAMMA Investing LLC boosted its position in Tidewater by 135.4% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 153 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Tidewater during the 1st quarter valued at approximately $28,000. PNC Financial Services Group Inc. increased its holdings in Tidewater by 71.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 156 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Tidewater by 6,322.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,138 shares in the last quarter. Finally, Raymond James Trust N.A. purchased a new position in shares of Tidewater during the 2nd quarter valued at approximately $216,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Tidewater Stock Up 3.0 %

TDW stock opened at $75.49 on Friday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 29.22 and a beta of 1.13. Tidewater Inc. has a 1-year low of $54.53 and a 1-year high of $111.42. The firm has a fifty day moving average price of $88.33 and a two-hundred day moving average price of $93.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82.

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

Tidewater announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 6th that authorizes the company to repurchase $13.90 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TDW shares. Raymond James lifted their price target on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com cut shares of Tidewater from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.25.

About Tidewater

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.