Magnetar Financial LLC Invests $486,000 in Tidewater Inc. (NYSE:TDW)

Magnetar Financial LLC purchased a new position in shares of Tidewater Inc. (NYSE:TDW) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,102 shares of the oil and gas company’s stock, valued at approximately $486,000.

A number of other institutional investors also recently modified their holdings of the business. Sage Mountain Advisors LLC raised its holdings in shares of Tidewater by 4.8% during the 2nd quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock worth $251,000 after buying an additional 120 shares in the last quarter. GAMMA Investing LLC increased its holdings in Tidewater by 135.4% in 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. increased its holdings in Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 156 shares in the last quarter. Natixis Advisors LLC increased its holdings in Tidewater by 0.7% in the 2nd quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock worth $2,525,000 after purchasing an additional 174 shares in the last quarter. Finally, Precision Wealth Strategies LLC increased its holdings in Tidewater by 8.5% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company’s stock worth $243,000 after purchasing an additional 264 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Trading Up 0.8 %

NYSE TDW opened at $77.36 on Wednesday. The business’s 50-day moving average price is $86.28 and its two-hundred day moving average price is $93.05. Tidewater Inc. has a 12 month low of $54.53 and a 12 month high of $111.42. The firm has a market capitalization of $4.06 billion, a PE ratio of 30.82 and a beta of 1.13. 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 (NYSE:TDW) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.72 by $0.22. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The company had revenue of $339.20 million for the quarter, compared to analyst estimates of $331.85 million. During the same quarter in the prior year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 57.8% compared to the same quarter last year. On average, analysts expect that Tidewater Inc. will post 4.4 EPS for the current year.

Tidewater announced that its Board of Directors has approved 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 reacquire up to 0.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have commented on TDW shares. Raymond James upped their price target on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 8th. StockNews.com lowered Tidewater from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. One research 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $111.25.

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.