AGF Management Ltd. Sells 922 Shares of Tidewater Inc. (NYSE:TDW)

AGF Management Ltd. trimmed its holdings in shares of Tidewater Inc. (NYSE:TDW) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,127 shares of the oil and gas company’s stock after selling 922 shares during the quarter. AGF Management Ltd.’s holdings in Tidewater were worth $7,724,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TDW. CreativeOne Wealth LLC acquired a new stake in Tidewater during the first quarter worth about $542,000. Russell Investments Group Ltd. boosted its stake in shares of Tidewater by 17.3% in the 1st quarter. Russell Investments Group Ltd. now owns 86,750 shares of the oil and gas company’s stock valued at $7,981,000 after purchasing an additional 12,799 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Tidewater in the 1st quarter valued at approximately $5,658,000. Sei Investments Co. boosted its stake in shares of Tidewater by 106.8% in the 1st quarter. Sei Investments Co. now owns 13,987 shares of the oil and gas company’s stock valued at $1,287,000 after purchasing an additional 7,225 shares in the last quarter. Finally, Anthracite Investment Company Inc. acquired a new stake in shares of Tidewater in the 4th quarter valued at approximately $3,101,000. 95.13% of the stock is owned by institutional investors.

Tidewater Stock Up 0.8 %

Shares of NYSE TDW opened at $70.69 on Friday. The company has a 50 day simple moving average of $89.96 and a 200 day simple moving average of $92.96. The firm has a market cap of $3.73 billion, a PE ratio of 28.16 and a beta of 1.13. Tidewater Inc. has a 1 year low of $54.53 and a 1 year high of $111.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.22. The business had revenue of $339.20 million during the quarter, compared to analyst estimates of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The firm’s quarterly revenue was up 57.8% on a year-over-year basis. During the same quarter last year, the business earned $0.46 EPS. On average, research analysts forecast that Tidewater Inc. will post 4.4 EPS for the current year.

Tidewater declared that its board has initiated a stock repurchase program on Tuesday, August 6th that permits the company to buyback $13.90 million in shares. This buyback authorization permits the oil and gas company to reacquire up to 0.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

TDW has been the topic of a number of research analyst reports. Raymond James raised their price target on shares of Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com downgraded shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday. One research 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $111.25.

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.