SG Americas Securities LLC Buys 5,335 Shares of Tidewater Inc. (NYSE:TDW)

SG Americas Securities LLC lifted its stake in shares of Tidewater Inc. (NYSE:TDW) by 105.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,396 shares of the oil and gas company’s stock after purchasing an additional 5,335 shares during the period. SG Americas Securities LLC’s holdings in Tidewater were worth $746,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CreativeOne Wealth LLC bought a new stake in shares of Tidewater during the 1st quarter worth approximately $542,000. Russell Investments Group Ltd. raised its stake in Tidewater by 17.3% in the 1st quarter. Russell Investments Group Ltd. now owns 86,750 shares of the oil and gas company’s stock valued at $7,981,000 after acquiring an additional 12,799 shares during the period. Lord Abbett & CO. LLC bought a new stake in Tidewater in the 1st quarter valued at $5,658,000. Sei Investments Co. raised its stake in Tidewater by 106.8% in the 1st quarter. Sei Investments Co. now owns 13,987 shares of the oil and gas company’s stock valued at $1,287,000 after acquiring an additional 7,225 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Tidewater by 244.3% in the 1st quarter. Principal Financial Group Inc. now owns 38,413 shares of the oil and gas company’s stock valued at $3,534,000 after acquiring an additional 27,257 shares during the period. Institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TDW has been the topic 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 upgraded Tidewater from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $111.25.

Tidewater Stock Performance

Shares of NYSE TDW opened at $67.88 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. The stock’s fifty day moving average price is $78.93 and its two-hundred day moving average price is $91.47. Tidewater Inc. has a one year low of $54.53 and a one year high of $111.42. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 22.48 and a beta of 1.12.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $331.85 million. During the same period in the prior year, the firm posted $0.46 EPS. The company’s revenue for the quarter was up 57.8% on a year-over-year basis. On average, equities analysts forecast that Tidewater Inc. will post 4.4 EPS for the current year.

Tidewater declared that its board has initiated a share buyback plan on Tuesday, August 6th that allows the company to repurchase $13.90 million in outstanding shares. This repurchase authorization allows the oil and gas company to reacquire up to 0.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.