Private Advisor Group LLC Purchases 600 Shares of Tidewater Inc. (NYSE:TDW)

Private Advisor Group LLC raised its stake in shares of Tidewater Inc. (NYSE:TDW) by 14.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,852 shares of the oil and gas company’s stock after purchasing an additional 600 shares during the quarter. Private Advisor Group LLC’s holdings in Tidewater were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TDW. PNC Financial Services Group Inc. boosted its holdings in Tidewater by 71.6% during 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. BNP Paribas Financial Markets boosted its holdings in Tidewater by 22.5% during the first quarter. BNP Paribas Financial Markets now owns 38,597 shares of the oil and gas company’s stock valued at $3,551,000 after purchasing an additional 7,087 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Tidewater during the first quarter valued at approximately $1,473,000. Capital Wealth Planning LLC acquired a new stake in Tidewater during the first quarter valued at approximately $865,000. Finally, Zevenbergen Capital Investments LLC acquired a new stake in Tidewater during the first quarter valued at approximately $543,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Tidewater Stock Up 1.6 %

Shares of TDW opened at $60.70 on Wednesday. The company has a market capitalization of $3.19 billion, a P/E ratio of 20.03 and a beta of 1.14. 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 Inc. has a one year low of $54.53 and a one year high of $111.42. The business’s 50 day simple moving average is $70.94 and its 200-day simple moving average is $87.71.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $339.20 million for the quarter, compared to the consensus estimate of $331.85 million. During the same quarter in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 57.8% compared to the same quarter last year. As a group, sell-side analysts predict that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

Tidewater declared that its board has initiated a stock repurchase program on Tuesday, August 6th that permits the company to buyback $13.90 million in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 0.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Raymond James lifted their price objective on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a report on Thursday, August 8th. StockNews.com downgraded Tidewater from a “hold” rating to a “sell” rating in a report on Saturday, October 26th. One analyst has rated the stock with a sell rating, four have assigned 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 Company 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.