Nisa Investment Advisors LLC Grows Holdings in Tidewater Inc. $TDW

Nisa Investment Advisors LLC grew its stake in Tidewater Inc. (NYSE:TDW) by 201.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,027 shares of the oil and gas company’s stock after buying an additional 1,354 shares during the period. Nisa Investment Advisors LLC’s holdings in Tidewater were worth $94,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TDW. Price T Rowe Associates Inc. MD grew its stake in Tidewater by 69.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,904,826 shares of the oil and gas company’s stock worth $165,058,000 after buying an additional 1,598,513 shares in the last quarter. Robotti Robert grew its stake in Tidewater by 8.5% in the 1st quarter. Robotti Robert now owns 2,856,631 shares of the oil and gas company’s stock worth $120,750,000 after buying an additional 223,651 shares in the last quarter. Third Avenue Management LLC grew its stake in Tidewater by 37.6% in the 1st quarter. Third Avenue Management LLC now owns 809,258 shares of the oil and gas company’s stock worth $34,207,000 after buying an additional 221,079 shares in the last quarter. Raymond James Financial Inc. grew its stake in Tidewater by 271.7% in the 1st quarter. Raymond James Financial Inc. now owns 295,337 shares of the oil and gas company’s stock worth $12,484,000 after buying an additional 215,891 shares in the last quarter. Finally, Aegis Financial Corp purchased a new position in Tidewater in the 1st quarter worth approximately $8,527,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Trading Down 2.0%

NYSE:TDW opened at $50.83 on Wednesday. The company has a fifty day moving average of $54.12 and a 200 day moving average of $49.38. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $65.76. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $2.52 billion, a P/E ratio of 13.17 and a beta of 1.05.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Monday, August 4th. The oil and gas company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.95. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The company had revenue of $341.43 million during the quarter, compared to analyst estimates of $317.28 million. During the same period in the prior year, the business posted $0.94 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, research analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current year.

Tidewater announced that its board has approved a share buyback plan on Monday, August 4th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the oil and gas company to repurchase up to 21.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TDW. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a report on Wednesday, October 8th. Evercore ISI boosted their price objective on shares of Tidewater from $60.00 to $67.00 and gave the stock an “in-line” rating in a report on Wednesday, August 6th. BTIG Research lowered shares of Tidewater from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Dnb Nor Markets cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tidewater currently has an average rating of “Hold” and an average target price of $69.00.

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.