NBC Securities Inc. Raises Stock Position in Tidewater Inc. (NYSE:TDW)

NBC Securities Inc. lifted its stake in Tidewater Inc. (NYSE:TDW) by 46.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,305 shares of the oil and gas company’s stock after buying an additional 4,205 shares during the period. NBC Securities Inc.’s holdings in Tidewater were worth $955,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Tidewater by 25.7% during the first quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock worth $442,956,000 after buying an additional 985,398 shares during the period. Boston Partners raised its position in Tidewater by 11.7% in the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after purchasing an additional 243,489 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Tidewater by 11,317.3% during the 2nd quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock worth $60,992,000 after purchasing an additional 639,765 shares during the period. Bank of New York Mellon Corp grew its position in Tidewater by 72.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company’s stock worth $42,257,000 after purchasing an additional 185,972 shares during the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in shares of Tidewater in the first quarter valued at about $34,898,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Tidewater Stock Up 0.4 %

Tidewater stock opened at $63.42 on Thursday. The stock’s 50 day moving average price is $77.63 and its 200 day moving average price is $90.88. Tidewater Inc. has a 1-year low of $54.53 and a 1-year high of $111.42. The company has a market cap of $3.33 billion, a PE ratio of 21.00 and a beta of 1.12. 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 posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.22. The business had revenue of $339.20 million for the quarter, compared to analysts’ expectations of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The business’s revenue for the quarter was up 57.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 EPS. On average, sell-side analysts predict that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

Tidewater announced that its board has authorized a share repurchase program on Tuesday, August 6th that permits the company to repurchase $13.90 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors 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.