Tidewater Inc. (NYSE:TDW) Shares Acquired by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC lifted its holdings in shares of Tidewater Inc. (NYSE:TDW) by 17.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,622 shares of the oil and gas company’s stock after purchasing an additional 840 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Tidewater were worth $404,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Tectonic Advisors LLC purchased a new position in shares of Tidewater in the 3rd quarter worth $1,233,000. Assenagon Asset Management S.A. raised its position in shares of Tidewater by 0.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 139,945 shares of the oil and gas company’s stock worth $10,047,000 after buying an additional 457 shares during the period. Private Advisor Group LLC raised its position in shares of Tidewater by 14.1% in the 3rd quarter. Private Advisor Group LLC now owns 4,852 shares of the oil and gas company’s stock worth $348,000 after buying an additional 600 shares during the period. Raymond James & Associates raised its position in shares of Tidewater by 11.9% in the 3rd quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company’s stock worth $6,725,000 after buying an additional 9,952 shares during the period. Finally, Naviter Wealth LLC raised its position in shares of Tidewater by 48.7% in the 3rd quarter. Naviter Wealth LLC now owns 126,050 shares of the oil and gas company’s stock worth $9,049,000 after buying an additional 41,256 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com lowered Tidewater from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th. Raymond James raised 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. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $111.25.

Tidewater Stock Up 1.6 %

Shares of NYSE TDW opened at $59.77 on Tuesday. Tidewater Inc. has a 1 year low of $54.53 and a 1 year high of $111.42. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 20.11 and a beta of 1.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 1.90. The stock’s 50-day simple moving average is $71.55 and its 200-day simple moving average is $87.91.

Tidewater (NYSE:TDW) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, topping 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 business had revenue of $339.20 million for the quarter, compared to analyst estimates of $331.85 million. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 57.8% compared to the same quarter last year. As a group, equities analysts anticipate that Tidewater Inc. will post 4.4 earnings per share for the current fiscal year.

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

Tidewater Profile

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.