Evergreen Capital Management LLC Buys Shares of 2,296 Tidewater Inc. (NYSE:TDW)

Evergreen Capital Management LLC purchased a new position in shares of Tidewater Inc. (NYSE:TDW) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,296 shares of the oil and gas company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Tidewater by 25.7% in the first quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock worth $442,956,000 after purchasing an additional 985,398 shares during the period. Hsbc Holdings PLC lifted its stake 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 worth $60,992,000 after acquiring an additional 639,765 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of Tidewater in the first quarter valued at approximately $34,898,000. Boston Partners increased its stake in shares of Tidewater by 11.7% during the first quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after acquiring an additional 243,489 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Tidewater by 622.0% during the second quarter. Principal Financial Group Inc. now owns 277,346 shares of the oil and gas company’s stock worth $26,406,000 after purchasing an additional 238,933 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Tidewater Stock Performance

Shares of NYSE TDW opened at $71.79 on Friday. The stock’s fifty day simple moving average is $84.45 and its 200 day simple moving average is $92.76. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 28.60 and a beta of 1.13. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. Tidewater Inc. has a 52-week low of $54.53 and a 52-week high of $111.42.

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

Tidewater declared that its board has authorized a stock repurchase program on Tuesday, August 6th that permits the company to buyback $13.90 million in outstanding shares. This buyback authorization permits 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 believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TDW has been the subject of a number of research reports. Raymond James increased their price target on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com lowered Tidewater from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.25.

Tidewater 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.