Pacer Advisors Inc. Trims Holdings in Tidewater Inc. $TDW

Pacer Advisors Inc. trimmed its holdings in shares of Tidewater Inc. (NYSE:TDW – Free Report) by 6.1% in the 4th quarter, Holdings Channel reports. The firm owned 210,282 shares of the oil and gas company’s stock after selling 13,711 shares during the quarter. Pacer Advisors Inc.’s holdings in Tidewater were worth $10,621,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Clearstead Advisors LLC grew its holdings in shares of Tidewater by 22.2% in the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 158 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Tidewater by 701.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 870 shares in the last quarter. Headlands Technologies LLC bought a new stake in Tidewater during the 2nd quarter valued at about $47,000. Aster Capital Management DIFC Ltd purchased a new stake in Tidewater in the 4th quarter valued at about $53,000. Finally, Wexford Capital LP purchased a new stake in Tidewater in the 3rd quarter valued at about $56,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

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Tidewater Price Performance

TDW opened at $64.64 on Monday. The firm has a market capitalization of $3.21 billion, a PE ratio of 10.83 and a beta of 0.50. 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’s 50-day moving average is $79.93 and its two-hundred day moving average is $71.23. Tidewater Inc. has a 1 year low of $44.11 and a 1 year high of $93.13.

Tidewater (NYSE:TDW – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.63). Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The firm had revenue of $326.22 million for the quarter, compared to analysts’ expectations of $322.83 million. During the same period in the previous year, the company posted $0.83 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Research analysts anticipate that Tidewater Inc. will post 3.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Barclays increased their price objective on Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Raymond James Financial set a $117.00 price objective on Tidewater in a report on Tuesday, March 3rd. Dawson James reaffirmed an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Finally, Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tidewater has a consensus rating of “Hold” and an average price target of $89.33.

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Tidewater Company Profile

(Free Report)

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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