Louisiana State Employees Retirement System Sells 1,100 Shares of Tidewater Inc. (NYSE:TDW)

Louisiana State Employees Retirement System trimmed its holdings in shares of Tidewater Inc. (NYSE:TDW) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,300 shares of the oil and gas company’s stock after selling 1,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Tidewater were worth $1,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted 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 purchasing an additional 153 shares during the period. Quarry LP bought a new stake in Tidewater during the 2nd quarter valued at $27,000. Transcendent Capital Group LLC purchased a new position in shares of Tidewater in the 1st quarter valued at $28,000. Hollencrest Capital Management bought a new position in shares of Tidewater in the 2nd quarter worth $30,000. Finally, 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. 95.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on TDW. StockNews.com lowered Tidewater from a “hold” rating to a “sell” rating in a research note on Saturday, October 26th. 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. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $111.25.

Tidewater Price Performance

Shares of NYSE TDW opened at $59.76 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 1.90. The company has a market cap of $3.15 billion, a PE ratio of 23.81 and a beta of 1.12. The business has a 50-day simple moving average of $73.16 and a two-hundred day simple moving average of $88.60. 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 the consensus estimate 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 last year, the firm posted $0.46 EPS. Tidewater’s revenue was up 57.8% on a year-over-year basis. As a group, equities analysts expect that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

Tidewater declared that its Board of Directors has initiated a share buyback 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 reacquire up to 0.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.