Federated Hermes Inc. Invests $28.20 Million in Tidewater Inc. $TDW

Federated Hermes Inc. purchased a new stake in Tidewater Inc. (NYSE:TDW) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 611,297 shares of the oil and gas company’s stock, valued at approximately $28,199,000. Federated Hermes Inc. owned approximately 1.24% of Tidewater as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its position in Tidewater by 2,321.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company’s stock worth $29,000 after buying an additional 650 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Tidewater by 4,245.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 849 shares during the period. Bogart Wealth LLC boosted its stake in shares of Tidewater by 28.6% during the 2nd quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 200 shares in the last quarter. CWM LLC grew its holdings in shares of Tidewater by 83.6% in the 2nd quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 422 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Tidewater in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

TDW has been the topic of a number of research analyst reports. Dnb Nor Markets downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research report on Monday. Evercore ISI dropped their target price on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a report on Wednesday, November 12th. Zacks Research cut shares of Tidewater from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. Finally, Fearnley Fonds upgraded shares of Tidewater to a “hold” rating in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $67.50.

Tidewater Stock Performance

Shares of TDW opened at $58.11 on Wednesday. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $64.07. The company’s 50 day simple moving average is $52.87 and its 200 day simple moving average is $52.26. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 19.57 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.79 and a current ratio of 2.89.

Tidewater (NYSE:TDW) last released its earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.46 by ($0.48). Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The firm had revenue of $341.11 million during the quarter, compared to analysts’ expectations of $328.84 million. During the same period in the previous year, the firm posted $0.87 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts predict that Tidewater Inc. will post 3.25 EPS for the current year.

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.