28,980 Shares in Tidewater Inc. $TDW Bought by VELA Investment Management LLC

VELA Investment Management LLC purchased a new stake in shares of Tidewater Inc. (NYSE:TDW) during the third quarter, Holdings Channel reports. The firm purchased 28,980 shares of the oil and gas company’s stock, valued at approximately $1,546,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its position in shares of Tidewater by 28.6% during the 2nd quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 200 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in Tidewater by 4.5% in the second quarter. Ameritas Investment Partners Inc. now owns 5,165 shares of the oil and gas company’s stock worth $238,000 after buying an additional 224 shares in the last quarter. Altfest L J & Co. Inc. grew its position in Tidewater by 2.0% during the third quarter. Altfest L J & Co. Inc. now owns 13,568 shares of the oil and gas company’s stock valued at $724,000 after acquiring an additional 272 shares during the last quarter. Lido Advisors LLC grew its position in Tidewater by 5.6% during the second quarter. Lido Advisors LLC now owns 5,152 shares of the oil and gas company’s stock valued at $238,000 after acquiring an additional 275 shares during the last quarter. Finally, Financial Enhancement Group LLC lifted its holdings in shares of Tidewater by 1.4% in the 3rd quarter. Financial Enhancement Group LLC now owns 21,371 shares of the oil and gas company’s stock worth $1,132,000 after acquiring an additional 288 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Tidewater Stock Up 4.8%

NYSE TDW opened at $59.51 on Thursday. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $64.07. The stock has a market capitalization of $2.95 billion, a PE ratio of 20.04 and a beta of 0.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79. The business’s 50-day moving average is $54.67 and its 200 day moving average is $54.16.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). Tidewater had a net margin of 11.14% and a return on equity of 14.86%. The business had revenue of $341.11 million for the quarter, compared to the consensus estimate of $328.84 million. During the same period in the previous year, the company earned $0.87 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TDW has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Dnb Nor Markets downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Evercore ISI reduced their price target on Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.50.

Tidewater Company Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.