Tidewater Inc. (NYSE:TDW) Stake Lowered by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC trimmed its holdings in shares of Tidewater Inc. (NYSE:TDW) by 22.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 770,063 shares of the oil and gas company’s stock after selling 217,689 shares during the period. Tidewater comprises about 3.8% of Encompass Capital Advisors LLC’s portfolio, making the stock its 5th largest position. Encompass Capital Advisors LLC owned approximately 1.47% of Tidewater worth $73,318,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TDW. Sage Mountain Advisors LLC lifted its position in shares of Tidewater by 4.8% in the 2nd quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 120 shares during the period. GAMMA Investing LLC lifted its holdings in Tidewater by 135.4% during the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after buying an additional 153 shares during the period. PNC Financial Services Group Inc. boosted its position in 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. Natixis Advisors LLC boosted its position in Tidewater by 0.7% during the 2nd quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock valued at $2,525,000 after acquiring an additional 174 shares in the last quarter. Finally, Precision Wealth Strategies LLC increased its holdings in shares of Tidewater by 8.5% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 264 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Stock Performance

Shares of TDW stock opened at $73.73 on Thursday. Tidewater Inc. has a 12-month low of $54.53 and a 12-month high of $111.42. The business’s fifty day simple moving average is $85.74 and its 200-day simple moving average is $92.92. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. The company has a market cap of $3.87 billion, a PE ratio of 29.37 and a beta of 1.13.

Tidewater (NYSE:TDW) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.22. The company had revenue of $339.20 million for the quarter, compared to analyst estimates of $331.85 million. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The firm’s quarterly revenue was up 57.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. Analysts expect that Tidewater Inc. will post 4.4 earnings per share for the current fiscal year.

Tidewater declared that its Board of Directors has authorized a share repurchase plan 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 repurchase up to 0.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TDW shares. Raymond James upped their price objective on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com downgraded shares of Tidewater from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus 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.