Wealth Enhancement Advisory Services LLC Buys New Position in Tidewater Inc. $TDW

Wealth Enhancement Advisory Services LLC purchased a new position in shares of Tidewater Inc. (NYSE:TDW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,423 shares of the oil and gas company’s stock, valued at approximately $617,000.

Other large investors have also modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Tidewater by 22.6% in the 1st quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock valued at $980,000 after acquiring an additional 4,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Tidewater by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock worth $1,227,000 after purchasing an additional 1,271 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Tidewater by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock valued at $1,895,000 after purchasing an additional 1,931 shares during the period. IFP Advisors Inc boosted its stake in shares of Tidewater by 64.5% during the second quarter. IFP Advisors Inc now owns 1,604 shares of the oil and gas company’s stock worth $74,000 after buying an additional 629 shares during the period. Finally, Inspire Investing LLC grew its holdings in shares of Tidewater by 10.8% during the second quarter. Inspire Investing LLC now owns 10,353 shares of the oil and gas company’s stock worth $478,000 after buying an additional 1,012 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Tidewater Stock Down 6.3%

Shares of NYSE TDW opened at $63.25 on Friday. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 21.29 and a beta of 0.65. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $67.92. The firm has a 50-day moving average price of $56.45 and a 200 day moving average price of $55.12. The company has a quick ratio of 2.79, a current ratio of 2.89 and a debt-to-equity ratio of 0.57.

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

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.