Pacer Advisors Inc. Reduces Position in Tidewater Inc. $TDW

Pacer Advisors Inc. decreased its stake in shares of Tidewater Inc. (NYSE:TDW) by 30.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,993 shares of the oil and gas company’s stock after selling 98,768 shares during the quarter. Pacer Advisors Inc.’s holdings in Tidewater were worth $11,946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Tidewater by 2,321.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 650 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Tidewater by 4,245.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 849 shares during the period. Bogart Wealth LLC grew its stake in 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. CWM LLC increased its holdings in shares of Tidewater by 83.6% in the second quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 422 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Tidewater by 701.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Stock Performance

TDW opened at $50.35 on Friday. The firm has a fifty day moving average price of $53.28 and a 200 day moving average price of $53.16. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $64.07. The stock has a market cap of $2.50 billion, a P/E ratio of 16.95 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). The firm 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 firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. Equities research analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

Wall Street Analyst Weigh In

TDW has been the topic of a number of recent research reports. Evercore ISI dropped their target price 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. Fearnley Fonds upgraded shares of Tidewater to a “hold” rating in a research note on Tuesday, September 16th. Zacks Research lowered shares of Tidewater from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a report on Monday, December 22nd. Finally, Dnb Nor Markets lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.50.

About Tidewater

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.