Tectonic Advisors LLC Makes New $1.23 Million Investment in Tidewater Inc. (NYSE:TDW)

Tectonic Advisors LLC acquired a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 17,172 shares of the oil and gas company's stock, valued at approximately $1,233,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Sage Mountain Advisors LLC boosted its stake in Tidewater by 4.8% in the second quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company's stock worth $251,000 after purchasing an additional 120 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 153 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Tidewater by 71.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 156 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Tidewater by 0.7% in the second quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company's stock worth $2,525,000 after acquiring an additional 174 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of Tidewater by 9.9% during the second quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company's stock worth $294,000 after buying an additional 279 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TDW shares. StockNews.com cut Tidewater from a "hold" rating to a "sell" rating in a research report on Saturday. Raymond James raised their price objective on Tidewater from $133.00 to $138.00 and gave the stock a "strong-buy" rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $111.25.

Tidewater Price Performance

Shares of TDW traded down $0.57 during midday trading on Friday, hitting $61.02. The company's stock had a trading volume of 1,044,407 shares, compared to its average volume of 887,492. Tidewater Inc. has a one year low of $54.53 and a one year high of $111.42. The company's fifty day simple moving average is $74.24 and its two-hundred day simple moving average is $89.18. 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 stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 24.31 and a beta of 1.12.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly 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. The company had revenue of $339.20 million for the quarter, compared to analyst estimates of $331.85 million. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The company's revenue for the quarter was up 57.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. As a group, equities analysts expect that Tidewater Inc. will post 4.4 earnings per share for the current fiscal year.

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

Tidewater Company 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.