Inspire Advisors LLC Sells 182 Shares of Tidewater Inc. (NYSE:TDW)

Inspire Advisors LLC trimmed its holdings in Tidewater Inc. (NYSE:TDW) by 6.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,490 shares of the oil and gas company’s stock after selling 182 shares during the period. Inspire Advisors LLC’s holdings in Tidewater were worth $237,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TDW. GAMMA Investing LLC grew its position in Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 153 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Tidewater by 71.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 156 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Tidewater in the first quarter worth approximately $28,000. Headlands Technologies LLC lifted its stake in shares of Tidewater by 6,322.2% in the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,138 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of Tidewater in the fourth quarter worth $210,000. 95.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TDW shares. Raymond James boosted their price objective on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com cut shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $111.25.

Tidewater Price Performance

Shares of Tidewater stock opened at $71.48 on Monday. 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 has a market cap of $3.75 billion, a PE ratio of 28.48 and a beta of 1.13. The firm has a fifty day moving average price of $89.51 and a two-hundred day moving average price of $93.25. Tidewater Inc. has a fifty-two week low of $54.53 and a fifty-two week high of $111.42.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 EPS 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 quarter in the prior year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 57.8% on a year-over-year basis. Analysts expect that Tidewater Inc. will post 4.4 EPS for the current year.

Tidewater announced that its board has initiated a share repurchase 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 purchase up to 0.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management 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.