Tidewater Inc. (NYSE:TDW) is Orchard Capital Management LLC’s 3rd Largest Position

Orchard Capital Management LLC trimmed its position in Tidewater Inc. (NYSE:TDW) by 1.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 166,146 shares of the oil and gas company’s stock after selling 2,271 shares during the quarter. Tidewater makes up 4.8% of Orchard Capital Management LLC’s portfolio, making the stock its 3rd biggest position. Orchard Capital Management LLC’s holdings in Tidewater were worth $15,819,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TDW. GAMMA Investing LLC raised its position in shares of Tidewater by 135.4% in the 2nd 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. raised its position in shares of Tidewater by 71.6% in the 4th 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 position in shares of Tidewater in the 1st quarter worth $28,000. Hollencrest Capital Management acquired a new position in Tidewater during the 2nd quarter valued at about $30,000. Finally, Headlands Technologies LLC raised its stake 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 valued at $110,000 after buying an additional 1,138 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TDW has been the subject of a number of research analyst reports. Raymond James increased their price target on 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 cut 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $111.25.

Tidewater Trading Up 3.0 %

Shares of NYSE:TDW opened at $75.49 on Friday. Tidewater Inc. has a 52-week low of $54.53 and a 52-week high of $111.42. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 30.07 and a beta of 1.13. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $88.33 and a 200-day moving average price of $93.10.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $339.20 million during the quarter, compared to analysts’ expectations of $331.85 million. During the same period last year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 57.8% compared to the same quarter last year. Equities analysts predict that Tidewater Inc. will post 4.4 EPS for the current year.

Tidewater declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 6th that permits the company to repurchase $13.90 million in shares. This repurchase authorization permits the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock repurchase programs are typically 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.