AGF Management Ltd. Has $7.72 Million Position in Tidewater Inc. (NYSE:TDW)

AGF Management Ltd. lowered its position in shares of Tidewater Inc. (NYSE:TDW) by 1.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,127 shares of the oil and gas company’s stock after selling 922 shares during the quarter. AGF Management Ltd. owned 0.15% of Tidewater worth $7,724,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TDW. CreativeOne Wealth LLC acquired a new position in shares of Tidewater in the first quarter valued at approximately $542,000. Russell Investments Group Ltd. boosted its holdings in shares of Tidewater by 17.3% in the first quarter. Russell Investments Group Ltd. now owns 86,750 shares of the oil and gas company’s stock valued at $7,981,000 after buying an additional 12,799 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Tidewater in the first quarter valued at approximately $5,658,000. Sei Investments Co. boosted its holdings in shares of Tidewater by 106.8% in the first quarter. Sei Investments Co. now owns 13,987 shares of the oil and gas company’s stock valued at $1,287,000 after buying an additional 7,225 shares during the period. Finally, Anthracite Investment Company Inc. acquired a new position in shares of Tidewater in the fourth quarter valued at approximately $3,101,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analysts Set New Price Targets

TDW has been the subject of several research analyst reports. StockNews.com cut shares of Tidewater from a “hold” rating to a “sell” rating in a report on Wednesday. Raymond James increased their target price on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

Tidewater Stock Performance

Shares of TDW opened at $70.69 on Friday. Tidewater Inc. has a 12 month low of $54.53 and a 12 month high of $111.42. The firm has a fifty day simple moving average of $89.96 and a 200 day simple moving average of $92.96. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 28.16 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The firm had revenue of $339.20 million for the quarter, compared to analyst estimates of $331.85 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was up 57.8% compared to the same quarter last year. Research analysts forecast that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

Tidewater declared that its Board of Directors has authorized a stock buyback plan on Tuesday, August 6th that authorizes the company to repurchase $13.90 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 0.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.