SG Americas Securities LLC lowered its holdings in shares of Tidewater Inc. (NYSE:TDW – Free Report) by 87.8% in the first quarter, HoldingsChannel reports. The firm owned 16,382 shares of the oil and gas company’s stock after selling 118,356 shares during the period. SG Americas Securities LLC’s holdings in Tidewater were worth $1,369,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of TDW. Royal Bank of Canada lifted its position in shares of Tidewater by 22.6% in the first quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock valued at $980,000 after buying an additional 4,278 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Tidewater by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock valued at $1,227,000 after acquiring an additional 1,271 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Tidewater by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock valued at $1,895,000 after acquiring an additional 1,931 shares during the period. Cetera Investment Advisers lifted its holdings in Tidewater by 4.1% during the 2nd quarter. Cetera Investment Advisers now owns 8,010 shares of the oil and gas company’s stock valued at $370,000 after purchasing an additional 314 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Tidewater by 12.1% during the 2nd quarter. Invesco Ltd. now owns 227,443 shares of the oil and gas company’s stock valued at $10,492,000 after purchasing an additional 24,609 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on TDW shares. Weiss Ratings downgraded shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 24th. Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Barclays lifted their target price on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Tidewater has a consensus rating of “Hold” and a consensus target price of $89.33.
Tidewater Stock Performance
TDW opened at $67.94 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.33 and a quick ratio of 3.22. The business has a fifty day simple moving average of $76.18 and a 200 day simple moving average of $71.77. Tidewater Inc. has a 1 year low of $45.71 and a 1 year high of $93.13. The company has a market capitalization of $3.38 billion, a PE ratio of 11.38 and a beta of 0.53.
Tidewater (NYSE:TDW – Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.63). Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The firm had revenue of $326.22 million for the quarter, compared to the consensus estimate of $322.83 million. During the same quarter in the previous year, the business earned $0.83 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Research analysts expect that Tidewater Inc. will post 3.52 EPS for the current year.
Tidewater Profile
Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.
The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.
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