Emerald Advisers LLC Trims Stake in Tidewater Inc. (NYSE:TDW)

Emerald Advisers LLC lowered its position in Tidewater Inc. (NYSE:TDW) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 265,037 shares of the oil and gas company’s stock after selling 4,986 shares during the quarter. Emerald Advisers LLC owned about 0.50% of Tidewater worth $19,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TDW. PNC Financial Services Group Inc. grew 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 worth $27,000 after purchasing an additional 156 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Tidewater by 22.5% in the first quarter. BNP Paribas Financial Markets now owns 38,597 shares of the oil and gas company’s stock worth $3,551,000 after purchasing an additional 7,087 shares during the last quarter. FORA Capital LLC bought a new position in shares of Tidewater in the first quarter worth about $1,473,000. Quantbot Technologies LP bought a new position in shares of Tidewater in the first quarter worth about $1,473,000. Finally, Capital Wealth Planning LLC bought a new position in shares of Tidewater in the first quarter worth about $865,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

TDW has been the topic of several recent research reports. StockNews.com cut shares of Tidewater from a “hold” rating to a “sell” rating in a report on Saturday, October 26th. Raymond James increased their target price on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 8th. One investment 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $111.25.

Tidewater Stock Down 2.1 %

Shares of NYSE:TDW traded down $1.25 during trading on Friday, reaching $58.82. The stock had a trading volume of 1,008,637 shares, compared to its average volume of 1,038,530. Tidewater Inc. has a one year low of $54.53 and a one year high of $111.42. The company has a market capitalization of $3.09 billion, a P/E ratio of 19.48 and a beta of 1.15. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $71.55 and its 200 day simple moving average is $87.93.

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

Tidewater declared that its Board of Directors has approved a stock buyback plan on Tuesday, August 6th that authorizes the company to repurchase $13.90 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is 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.