Raymond James & Associates grew its position in Tidewater Inc. (NYSE:TDW – Free Report) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,682 shares of the oil and gas company’s stock after acquiring an additional 9,952 shares during the quarter. Raymond James & Associates owned approximately 0.18% of Tidewater worth $6,725,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in TDW. Naviter Wealth LLC raised its holdings in shares of Tidewater by 48.7% during the third quarter. Naviter Wealth LLC now owns 126,050 shares of the oil and gas company’s stock worth $9,049,000 after purchasing an additional 41,256 shares during the period. NBC Securities Inc. grew its position in shares of Tidewater by 46.2% during the 3rd quarter. NBC Securities Inc. now owns 13,305 shares of the oil and gas company’s stock valued at $955,000 after buying an additional 4,205 shares during the last quarter. Creative Planning raised its stake in Tidewater by 42.8% during the third quarter. Creative Planning now owns 9,886 shares of the oil and gas company’s stock worth $710,000 after acquiring an additional 2,965 shares during the period. Inspire Investing LLC raised its stake in Tidewater by 49.8% during the third quarter. Inspire Investing LLC now owns 6,245 shares of the oil and gas company’s stock worth $448,000 after acquiring an additional 2,076 shares during the period. Finally, Fermata Advisors LLC lifted its holdings in Tidewater by 37.8% in the third quarter. Fermata Advisors LLC now owns 3,290 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 902 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on TDW shares. StockNews.com cut Tidewater from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th. Raymond James boosted their price target on shares of Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.25.
Tidewater Stock Down 0.9 %
TDW opened at $59.76 on Thursday. The stock’s 50 day moving average price is $73.16 and its 200 day moving average price is $88.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. The stock has a market cap of $3.15 billion, a P/E ratio of 23.81 and a beta of 1.12. Tidewater Inc. has a 12 month low of $54.53 and a 12 month high of $111.42.
Tidewater (NYSE:TDW – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.22. The business had revenue of $339.20 million for the quarter, compared to analysts’ expectations of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The company’s revenue was up 57.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 earnings per share. As a group, research analysts predict that Tidewater Inc. will post 4.4 earnings per share for the current year.
Tidewater announced that its Board of Directors has approved a stock buyback 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 buy up to 0.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
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.
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