Creative Planning Grows Stake in Tidewater Inc. (NYSE:TDW)

Creative Planning boosted its position in shares of Tidewater Inc. (NYSE:TDW) by 42.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,886 shares of the oil and gas company’s stock after purchasing an additional 2,965 shares during the quarter. Creative Planning’s holdings in Tidewater were worth $710,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TDW. 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 during the period. PNC Financial Services Group Inc. boosted its position in Tidewater by 71.6% during the 4th 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. Quarry LP bought a new stake in Tidewater during the 2nd quarter valued at $27,000. Transcendent Capital Group LLC bought a new stake in Tidewater during the 1st quarter valued at $28,000. Finally, Hollencrest Capital Management bought a new stake in Tidewater during the 2nd quarter valued at $30,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on TDW. StockNews.com cut Tidewater from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th. Raymond James increased their target price on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.25.

Tidewater Stock Down 2.1 %

Tidewater stock opened at $58.82 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 19.48 and a beta of 1.15. Tidewater Inc. has a 1-year low of $54.53 and a 1-year high of $111.42. The business has a fifty day moving average price of $71.55 and a 200-day moving average price of $87.93.

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

Tidewater declared that its Board of Directors has initiated a share buyback program on Tuesday, August 6th that permits the company to repurchase $13.90 million in shares. This repurchase authorization permits the oil and gas company to reacquire up to 0.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.