MQS Management LLC Makes New Investment in Tidewater Inc. (NYSE:TDW)

MQS Management LLC acquired a new stake in shares of Tidewater Inc. (NYSE:TDW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,523 shares of the oil and gas company’s stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 153 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Tidewater during the first quarter valued at $28,000. PNC Financial Services Group Inc. raised its stake in 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 during the last quarter. Headlands Technologies LLC lifted its position in Tidewater by 6,322.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 1,138 shares during the period. Finally, Raymond James Trust N.A. purchased a new stake in Tidewater during the 2nd quarter valued at about $216,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Stock Up 0.2 %

Tidewater stock opened at $75.65 on Friday. The business’s 50-day moving average price is $87.42 and its 200 day moving average price is $92.93. 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 firm has a market cap of $3.97 billion, a price-to-earnings ratio of 30.14 and a beta of 1.13. Tidewater Inc. has a 52 week low of $54.53 and a 52 week high of $111.42.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $331.85 million. During the same quarter last year, the company earned $0.46 EPS. The business’s revenue was up 57.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tidewater Inc. will post 4.4 earnings per share for the current year.

Tidewater announced that its board has initiated a stock repurchase program 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 shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

TDW has been the subject of a number of research reports. Raymond James lifted their target price on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a report 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 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.25.

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.