Hollencrest Capital Management Makes New $30,000 Investment in Tidewater Inc. (NYSE:TDW)

Hollencrest Capital Management purchased a new stake in shares of Tidewater Inc. (NYSE:TDW) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 320 shares of the oil and gas company’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TDW. GAMMA Investing LLC raised its holdings 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 position in shares of Tidewater during the first quarter worth $28,000. PNC Financial Services Group Inc. lifted its holdings in shares of Tidewater by 71.6% during the fourth 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 period. Headlands Technologies LLC grew its stake in shares of Tidewater by 6,322.2% in the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after purchasing an additional 1,138 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new stake in Tidewater in the second quarter valued at $216,000. 95.13% of the stock is currently owned by institutional investors.

Tidewater Stock Performance

Shares of TDW opened at $75.65 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. The firm’s fifty day simple moving average is $87.42 and its two-hundred day simple moving average is $92.93. Tidewater Inc. has a 12 month low of $54.53 and a 12 month high of $111.42. The stock has a market capitalization of $3.97 billion, a P/E ratio of 30.14 and a beta of 1.13.

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

Tidewater announced that its board has authorized a stock repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $13.90 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have commented on TDW. Raymond James lifted their target price on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 8th. StockNews.com lowered Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. 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. According to MarketBeat, Tidewater currently has an average rating of “Moderate Buy” and an average target price 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.