Capricorn Fund Managers Ltd Decreases Stock Holdings in Tidewater Inc. (NYSE:TDW)

Capricorn Fund Managers Ltd lessened its stake in shares of Tidewater Inc. (NYSE:TDW) by 18.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,000 shares of the oil and gas company’s stock after selling 2,000 shares during the quarter. Capricorn Fund Managers Ltd’s holdings in Tidewater were worth $646,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 153 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock worth $27,000 after buying an additional 156 shares during the last quarter. Quarry LP bought a new stake in shares of Tidewater in the second quarter worth $27,000. Transcendent Capital Group LLC purchased a new stake in Tidewater during the first quarter valued at $28,000. Finally, Hollencrest Capital Management bought a new position in Tidewater in the second quarter valued at about $30,000. 95.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Tidewater Stock Down 0.3 %

TDW stock opened at $67.88 on Monday. The business’s 50-day moving average price is $78.93 and its 200-day moving average price is $91.46. The stock has a market cap of $3.56 billion, a P/E ratio of 22.48 and a beta of 1.12. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. Tidewater Inc. has a twelve month low of $54.53 and a twelve month high of $111.42.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The business 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 company’s revenue was up 57.8% on a year-over-year basis. On average, equities research analysts forecast that Tidewater Inc. will post 4.4 EPS for the current year.

Tidewater announced that its Board of Directors has initiated a stock repurchase plan 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 reacquire up to 0.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management 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.