Natixis Advisors LLC Has $2.53 Million Stake in Tidewater Inc. (NYSE:TDW)

Natixis Advisors LLC lifted its position in shares of Tidewater Inc. (NYSE:TDW) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,520 shares of the oil and gas company’s stock after purchasing an additional 174 shares during the period. Natixis Advisors LLC owned 0.05% of Tidewater worth $2,525,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Precision Wealth Strategies LLC raised its stake in Tidewater by 8.5% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company’s stock worth $243,000 after purchasing an additional 264 shares in the last quarter. National Bank of Canada FI raised its position in shares of Tidewater by 122,052.6% in the fourth quarter. National Bank of Canada FI now owns 23,209 shares of the oil and gas company’s stock valued at $1,629,000 after buying an additional 23,190 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Tidewater by 608.4% in the fourth quarter. Spire Wealth Management now owns 1,771 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 1,521 shares during the period. Private Advisor Group LLC acquired a new stake in Tidewater during the fourth quarter worth approximately $210,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Tidewater by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 375,475 shares of the oil and gas company’s stock worth $27,076,000 after acquiring an additional 4,294 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Raymond James upped their target price on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $111.25.

Insider Buying and Selling at Tidewater

In other news, Director Kenneth Traub sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $106.38, for a total value of $2,127,600.00. Following the sale, the director now directly owns 68,802 shares in the company, valued at approximately $7,319,156.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 8.33% of the company’s stock.

Tidewater Stock Performance

Shares of NYSE:TDW opened at $73.42 on Tuesday. Tidewater Inc. has a 1 year low of $54.53 and a 1 year high of $111.42. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 29.25 and a beta of 1.13. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. The company’s 50 day simple moving average is $91.46 and its 200 day simple moving average is $93.30.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating 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 company had revenue of $339.20 million for the quarter, compared to analyst estimates of $331.85 million. During the same quarter last year, the company posted $0.46 EPS. The company’s revenue for the quarter was up 57.8% compared to the same quarter last year. As a group, research analysts predict that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

Tidewater announced that its board has authorized a stock buyback plan 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 reacquire up to 0.3% of its shares through open market purchases. Shares buyback plans are generally an indication 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.