Cerity Partners LLC Raises Holdings in Tidewater Inc. $TDW

Cerity Partners LLC lifted its holdings in shares of Tidewater Inc. (NYSE:TDW) by 104.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,142,935 shares of the oil and gas company’s stock after acquiring an additional 583,607 shares during the period. Cerity Partners LLC’s holdings in Tidewater were worth $57,730,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TDW. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Tidewater during the fourth quarter worth about $21,922,000. American Century Companies Inc. grew its stake in shares of Tidewater by 74.2% during the third quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock worth $51,698,000 after acquiring an additional 412,911 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Tidewater by 319.1% during the third quarter. Victory Capital Management Inc. now owns 303,015 shares of the oil and gas company’s stock worth $16,160,000 after acquiring an additional 230,706 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Tidewater by 159.7% during the second quarter. Ameriprise Financial Inc. now owns 358,563 shares of the oil and gas company’s stock worth $16,541,000 after acquiring an additional 220,473 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Tidewater by 286.0% during the third quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock worth $9,986,000 after acquiring an additional 138,739 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TDW. Barclays upped their target price on Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tidewater in a research report on Monday, June 1st. Dawson James reiterated an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Finally, Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $89.33.

Tidewater Trading Down 1.6%

Shares of NYSE:TDW opened at $73.18 on Wednesday. Tidewater Inc. has a 12-month low of $44.11 and a 12-month high of $93.13. The company has a market capitalization of $3.64 billion, a PE ratio of 12.26 and a beta of 0.49. The business has a 50 day moving average of $82.15 and a two-hundred day moving average of $70.23. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The company had revenue of $326.22 million during the quarter, compared to analyst estimates of $322.83 million. During the same period in the previous year, the firm posted $0.83 earnings per share. The company’s revenue was down 2.2% compared to the same quarter last year. As a group, analysts forecast that Tidewater Inc. will post 3.52 EPS for the current year.

About Tidewater

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.