Tidewater Inc. (NYSE:TDW) Shares Sold by Hara Capital LLC

Hara Capital LLC reduced its stake in Tidewater Inc. (NYSE:TDW) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,027 shares of the oil and gas company’s stock after selling 392 shares during the period. Tidewater accounts for about 1.3% of Hara Capital LLC’s investment portfolio, making the stock its 17th biggest holding. Hara Capital LLC owned about 0.06% of Tidewater worth $2,156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. CreativeOne Wealth LLC bought a new position in Tidewater during the 1st quarter worth $542,000. Russell Investments Group Ltd. grew its position in shares of Tidewater by 17.3% during the first quarter. Russell Investments Group Ltd. now owns 86,750 shares of the oil and gas company’s stock worth $7,981,000 after acquiring an additional 12,799 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Tidewater in the 1st quarter worth about $5,658,000. Sei Investments Co. lifted its position in Tidewater by 106.8% in the 1st quarter. Sei Investments Co. now owns 13,987 shares of the oil and gas company’s stock valued at $1,287,000 after purchasing an additional 7,225 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Tidewater during the 2nd quarter valued at about $1,241,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TDW has been the topic of a number of recent analyst reports. Raymond James lifted their price target on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a report on Thursday, August 8th. StockNews.com lowered Tidewater from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.25.

Tidewater Price Performance

NYSE TDW traded down $0.80 on Thursday, reaching $64.38. 288,952 shares of the stock traded hands, compared to its average volume of 885,016. Tidewater Inc. has a 12 month low of $54.53 and a 12 month high of $111.42. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. The firm’s fifty day simple moving average is $69.89 and its 200 day simple moving average is $87.35. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 21.58 and a beta of 1.14.

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

Tidewater declared that its board has initiated a stock buyback program on Tuesday, August 6th that allows the company to repurchase $13.90 million in outstanding shares. This repurchase authorization allows the oil and gas company to reacquire up to 0.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is 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.