Tectonic Advisors LLC Purchases Shares of 17,172 Tidewater Inc. (NYSE:TDW)

Tectonic Advisors LLC purchased a new stake in shares of Tidewater Inc. (NYSE:TDW) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 17,172 shares of the oil and gas company’s stock, valued at approximately $1,233,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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. Quarry LP bought a new position in Tidewater during the 2nd quarter valued at $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Tidewater during the 1st quarter valued at $28,000. Hollencrest Capital Management acquired a new stake in shares of Tidewater during the 2nd quarter valued at $30,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of 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 during the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Price Performance

TDW opened at $61.02 on Friday. The stock has a fifty day moving average of $74.24 and a 200-day moving average of $89.24. The firm has a market capitalization of $3.22 billion, a P/E ratio of 24.31 and a beta of 1.12. Tidewater Inc. has a 12-month low of $54.53 and a 12-month high of $111.42. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56.

Tidewater (NYSE:TDW) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.22. The company had revenue of $339.20 million during 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 company’s revenue for the quarter was up 57.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 earnings per share. Equities analysts forecast that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

Tidewater announced that its Board of Directors has initiated a stock buyback program on Tuesday, August 6th that permits the company to buyback $13.90 million in shares. This buyback authorization permits the oil and gas company to purchase up to 0.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TDW shares. Raymond James increased their price objective on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 8th. StockNews.com downgraded Tidewater from a “hold” rating to a “sell” rating in a research report on Saturday. One research 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’s stock. According to MarketBeat, Tidewater presently has a consensus rating of “Moderate Buy” and an average target price 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.