Apis Capital Advisors LLC Has $13.89 Million Stake in Tidewater Inc. (NYSE:TDW)

Apis Capital Advisors LLC lowered its stake in Tidewater Inc. (NYSE:TDW) by 21.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,900 shares of the oil and gas company’s stock after selling 38,900 shares during the quarter. Tidewater comprises 10.3% of Apis Capital Advisors LLC’s portfolio, making the stock its biggest holding. Apis Capital Advisors LLC owned 0.28% of Tidewater worth $13,891,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 153 shares in the last quarter. PNC Financial Services Group Inc. lifted its position 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 acquiring an additional 156 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tidewater in the first quarter valued at about $28,000. Hollencrest Capital Management bought a new position in shares of Tidewater in the second quarter worth about $30,000. Finally, Headlands Technologies LLC grew its position in shares of Tidewater by 6,322.2% during the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after purchasing an additional 1,138 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Price Performance

Shares of Tidewater stock opened at $75.68 on Monday. The firm has a market cap of $3.99 billion, a PE ratio of 30.15 and a beta of 1.13. The stock has a 50 day moving average of $87.42 and a 200 day moving average of $93.10. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. Tidewater Inc. has a 12 month low of $54.53 and a 12 month high of $111.42.

Tidewater (NYSE:TDW) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $331.85 million. During the same period in the prior year, the company earned $0.46 EPS. The company’s quarterly revenue was up 57.8% compared to the same quarter last year. On average, research analysts expect that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

Tidewater announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $13.90 million in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

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