Louisiana State Employees Retirement System Takes $1.70 Million Position in Tidewater Inc. $TDW

Louisiana State Employees Retirement System purchased a new position in shares of Tidewater Inc. (NYSE:TDW) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 20,400 shares of the oil and gas company’s stock, valued at approximately $1,704,000.

Several other large investors have also bought and sold shares of the business. Cerity Partners LLC boosted its position in shares of Tidewater by 104.3% in the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after purchasing an additional 583,607 shares during the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Tidewater in the 4th quarter valued at approximately $21,922,000. American Century Companies Inc. boosted its stake in Tidewater by 74.2% during the 3rd 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 holdings in 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 valued at $16,160,000 after purchasing an additional 230,706 shares during the period. Finally, SummitTX Capital L.P. acquired a new position in Tidewater during the fourth quarter valued at approximately $11,403,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on TDW. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Barclays increased their target price on Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings cut shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.33.

Tidewater Price Performance

Shares of TDW opened at $66.89 on Thursday. Tidewater Inc. has a 1-year low of $45.71 and a 1-year high of $93.13. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 11.20 and a beta of 0.53. The company’s fifty day simple moving average is $76.85 and its 200 day simple moving average is $71.71. 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 for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The business had revenue of $326.22 million for the quarter, compared to analyst estimates of $322.83 million. During the same period last year, the firm earned $0.83 EPS. Tidewater’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, research analysts forecast that Tidewater Inc. will post 3.52 earnings per share for the current fiscal year.

Tidewater Profile

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.