Tectonic Advisors LLC Boosts Stake in Tidewater Inc. (NYSE:TDW)

Tectonic Advisors LLC raised its holdings in Tidewater Inc. (NYSE:TDW) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,574 shares of the oil and gas company’s stock after acquiring an additional 402 shares during the quarter. Tectonic Advisors LLC’s holdings in Tidewater were worth $961,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TDW. Tidal Investments LLC raised its stake in Tidewater by 8.1% in the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock valued at $257,000 after purchasing an additional 267 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Tidewater by 3.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,479 shares of the oil and gas company’s stock worth $680,000 after buying an additional 321 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Tidewater by 163.5% during the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 435 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Tidewater by 0.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 139,945 shares of the oil and gas company’s stock worth $10,047,000 after acquiring an additional 457 shares during the last quarter. Finally, Quarry LP grew its position in Tidewater by 187.6% in the third quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock worth $58,000 after acquiring an additional 531 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. Pickering Energy Partners cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. DNB Markets began coverage on Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 target price for the company. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. Finally, StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.60.

Insiders Place Their Bets

In other news, CEO Quintin Kneen acquired 41,615 shares of the stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the purchase, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. The trade was a 30.91 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.33% of the company’s stock.

Tidewater Price Performance

Shares of Tidewater stock opened at $54.93 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. Tidewater Inc. has a one year low of $46.50 and a one year high of $111.42. The business’s 50 day simple moving average is $52.74 and its two-hundred day simple moving average is $66.26. The stock has a market capitalization of $2.87 billion, a P/E ratio of 16.15 and a beta of 1.04.

Tidewater (NYSE:TDW) last issued its earnings results on Thursday, November 7th. The oil and gas company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. The company had revenue of $340.36 million for the quarter, compared to the consensus estimate of $339.65 million. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. During the same period in the previous year, the firm earned $0.77 earnings per share. Analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

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.