Inspire Investing LLC Has $397,000 Position in Tidewater Inc. (NYSE:TDW)

Inspire Investing LLC decreased its holdings in shares of Tidewater Inc. (NYSE:TDW) by 9.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,169 shares of the oil and gas company’s stock after selling 412 shares during the period. Inspire Investing LLC’s holdings in Tidewater were worth $397,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Sage Mountain Advisors LLC increased its position in shares of Tidewater by 4.8% during the second quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock worth $251,000 after acquiring an additional 120 shares in the last quarter. GAMMA Investing LLC increased its holdings in Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 153 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Tidewater by 71.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 156 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Tidewater by 0.7% during the second quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock valued at $2,525,000 after buying an additional 174 shares during the last quarter. Finally, Precision Wealth Strategies LLC grew its holdings in Tidewater by 8.5% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company’s stock worth $243,000 after buying an additional 264 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com cut Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Raymond James raised their price target on shares of Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.25.

Tidewater Stock Up 0.2 %

Shares of NYSE:TDW opened at $75.68 on Friday. Tidewater Inc. has a 1 year low of $54.53 and a 1 year high of $111.42. The company has a market capitalization of $3.99 billion, a PE ratio of 30.15 and a beta of 1.13. The business has a fifty day moving average price of $87.42 and a two-hundred day moving average price of $93.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82.

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

Tidewater declared that its board has approved a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $13.90 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

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.