15,508 Shares in Tidewater Inc. (NYSE:TDW) Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC purchased a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,508 shares of the oil and gas company's stock, valued at approximately $1,477,000.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Tidewater by 135.4% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 153 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Tidewater by 71.6% during 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 purchasing an additional 156 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of Tidewater during the first quarter valued at $28,000. Hollencrest Capital Management purchased a new stake in shares of Tidewater during the second quarter valued at $30,000. Finally, Headlands Technologies LLC increased its holdings in Tidewater by 6,322.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company's stock worth $110,000 after buying an additional 1,138 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TDW shares. Raymond James lifted their target price on shares of Tidewater from $133.00 to $138.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 8th. StockNews.com upgraded Tidewater from a "sell" rating to a "hold" rating in a research note on Friday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $111.25.

Tidewater Price Performance

Shares of TDW traded down $0.75 during trading hours on Friday, reaching $71.25. 1,042,599 shares of the stock traded hands, compared to its average volume of 1,077,142. The company has a market cap of $3.74 billion, a P/E ratio of 28.38 and a beta of 1.12. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. The company's 50-day moving average price is $81.51 and its two-hundred day moving average price is $92.21. Tidewater Inc. has a 52-week low of $54.53 and a 52-week high of $111.42.

Tidewater (NYSE:TDW - Get Free Report) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $331.85 million. During the same quarter last year, the company earned $0.46 EPS. The firm's quarterly revenue was up 57.8% on a year-over-year basis. On average, analysts anticipate that Tidewater Inc. will post 4.4 earnings per share for the current year.

Tidewater declared that its Board of Directors has approved a share repurchase program on Tuesday, August 6th that allows the company to repurchase $13.90 million in shares. This repurchase authorization allows the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Tidewater 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.