Tidewater Inc. (NYSE:TDW) Shares Bought by Creative Planning

Creative Planning grew its stake in Tidewater Inc. (NYSE:TDW) by 51.8% during the 2nd quarter, Holdings Channel reports. The firm owned 6,921 shares of the oil and gas company’s stock after purchasing an additional 2,363 shares during the quarter. Creative Planning’s holdings in Tidewater were worth $659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of Tidewater by 17.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 341,935 shares of the oil and gas company’s stock worth $24,657,000 after purchasing an additional 50,301 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Tidewater by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,829,340 shares of the oil and gas company’s stock worth $276,134,000 after buying an additional 30,740 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Tidewater by 71.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 156 shares during the last quarter. Fermata Advisors LLC purchased a new position in shares of Tidewater in the first quarter worth about $253,000. Finally, 180 Wealth Advisors LLC boosted its position in Tidewater by 28.9% during the first quarter. 180 Wealth Advisors LLC now owns 4,000 shares of the oil and gas company’s stock worth $368,000 after acquiring an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Stock Performance

Tidewater stock opened at $67.88 on Monday. The firm has a 50 day simple moving average of $78.93 and a 200-day simple moving average of $91.46. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 22.48 and a beta of 1.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. Tidewater Inc. has a 1-year low of $54.53 and a 1-year high of $111.42.

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

Tidewater declared that its board has approved a share 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 reacquire up to 0.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have weighed in on TDW. Raymond James raised their target price on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Friday, October 4th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tidewater currently has an average rating of “Buy” and an average price target of $111.25.

Tidewater Company 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.