CoreCap Advisors LLC Takes $439,000 Position in Tidewater Inc. (NYSE:TDW)

CoreCap Advisors LLC bought a new stake in Tidewater Inc. (NYSE:TDW) in the second quarter, HoldingsChannel reports. The fund bought 4,613 shares of the oil and gas company’s stock, valued at approximately $439,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Precision Wealth Strategies LLC boosted its holdings in shares of 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 valued at $243,000 after purchasing an additional 264 shares during the last quarter. Private Advisor Group LLC acquired a new position in Tidewater in the fourth quarter valued at $210,000. Charles Schwab Investment Management Inc. grew its position in Tidewater by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 375,475 shares of the oil and gas company’s stock valued at $27,076,000 after acquiring an additional 4,294 shares during the period. Jump Financial LLC increased its stake in Tidewater by 98.7% during the fourth quarter. Jump Financial LLC now owns 7,352 shares of the oil and gas company’s stock worth $530,000 after acquiring an additional 3,652 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Tidewater by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,805,483 shares of the oil and gas company’s stock worth $130,195,000 after purchasing an additional 31,292 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Up 1.1 %

NYSE TDW opened at $71.48 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. Tidewater Inc. has a fifty-two week low of $54.53 and a fifty-two week high of $111.42. The business has a 50 day moving average price of $89.51 and a two-hundred day moving average price of $93.09. The stock has a market cap of $3.75 billion, a PE ratio of 28.48 and a beta of 1.13.

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

Tidewater declared that its Board of Directors has approved a share repurchase plan on Tuesday, August 6th that allows the company to repurchase $13.90 million in shares. This repurchase authorization allows the oil and gas company to reacquire up to 0.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Raymond James boosted their target price on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 8th. StockNews.com lowered shares of Tidewater from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.25.

Tidewater Company 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.