South Dakota Investment Council Sells 11,700 Shares of Tidewater Inc. $TDW

South Dakota Investment Council reduced its position in Tidewater Inc. (NYSE:TDW) by 10.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 98,242 shares of the oil and gas company’s stock after selling 11,700 shares during the period. South Dakota Investment Council’s holdings in Tidewater were worth $8,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Blue Trust Inc. purchased a new stake in Tidewater during the first quarter valued at $26,000. Clearstead Advisors LLC boosted its position in Tidewater by 22.2% in the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 158 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Tidewater by 701.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares during the period. Headlands Technologies LLC bought a new stake in shares of Tidewater during the 2nd quarter valued at about $47,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Tidewater during the 4th quarter valued at about $53,000. Institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

TDW has been the topic of several recent research reports. Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Weiss Ratings cut shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Barclays lifted their price target on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Finally, Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $89.33.

Tidewater Stock Up 0.8%

NYSE TDW opened at $73.63 on Friday. Tidewater Inc. has a 52 week low of $46.65 and a 52 week high of $93.13. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $3.66 billion, a P/E ratio of 12.33 and a beta of 0.53. The stock’s 50-day moving average price is $72.56 and its 200-day moving average price is $74.91.

Tidewater (NYSE:TDW) last announced its quarterly earnings data 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). The company had revenue of $326.22 million for the quarter, compared to the consensus estimate of $322.83 million. Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. On average, equities research analysts predict that Tidewater Inc. will post 3.52 earnings per share for the current 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.