Virtu Financial LLC Acquires Shares of 11,936 Tidewater Inc. (NYSE:TDW)

Virtu Financial LLC bought a new position in Tidewater Inc. (NYSE:TDW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,936 shares of the oil and gas company’s stock, valued at approximately $1,136,000.

A number of other institutional investors have also modified their holdings of TDW. GAMMA Investing LLC increased its holdings in Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 153 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tidewater in the 1st quarter valued at approximately $28,000. PNC Financial Services Group Inc. raised its position in shares of Tidewater by 71.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 156 shares in the last quarter. Headlands Technologies LLC boosted its holdings in 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 purchasing an additional 1,138 shares during the period. Finally, Raymond James Trust N.A. bought a new stake in Tidewater during the second quarter valued at $216,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tidewater Stock Performance

Shares of TDW opened at $73.35 on Thursday. The firm has a fifty day moving average of $88.73 and a 200-day moving average of $93.24. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 29.22 and a beta of 1.13. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 1.90. Tidewater Inc. has a 1 year low of $54.53 and a 1 year high of $111.42.

Tidewater (NYSE:TDW) last posted its earnings results 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. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The firm had revenue of $339.20 million during the quarter, compared to analyst estimates of $331.85 million. During the same period in the previous year, the business posted $0.46 EPS. Tidewater’s revenue was up 57.8% on a year-over-year basis. As a group, equities analysts anticipate that Tidewater Inc. will post 4.4 earnings per share for the current year.

Tidewater announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $13.90 million in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 0.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About Tidewater

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.