Stratos Wealth Advisors LLC Invests $2.01 Million in Tidewater Inc. $TDW

Stratos Wealth Advisors LLC acquired a new stake in Tidewater Inc. (NYSE:TDW) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 37,690 shares of the oil and gas company’s stock, valued at approximately $2,010,000.

A number of other hedge funds also recently made changes to their positions in the business. Robotti Robert increased its stake in shares of Tidewater by 3.3% during the 2nd quarter. Robotti Robert now owns 2,951,533 shares of the oil and gas company’s stock worth $136,154,000 after purchasing an additional 94,902 shares during the last quarter. American Century Companies Inc. increased its position in Tidewater by 291.8% in the second quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company’s stock worth $25,670,000 after buying an additional 414,454 shares during the last quarter. River Road Asset Management LLC raised its stake in shares of Tidewater by 86.0% in the second quarter. River Road Asset Management LLC now owns 101,780 shares of the oil and gas company’s stock valued at $5,090,000 after buying an additional 47,049 shares during the period. VELA Investment Management LLC purchased a new position in shares of Tidewater during the 3rd quarter valued at $1,546,000. Finally, SummerHaven Investment Management LLC bought a new position in shares of Tidewater during the 3rd quarter worth $855,000. 95.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TDW. Evercore 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 report on Wednesday, November 12th. Dnb Nor Markets downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $67.50.

Insider Transactions at Tidewater

In other news, EVP Daniel A. Hudson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $70.01, for a total value of $700,100.00. Following the completion of the transaction, the executive vice president directly owned 65,986 shares in the company, valued at approximately $4,619,679.86. This represents a 13.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.60% of the stock is currently owned by company insiders.

Tidewater Price Performance

TDW stock opened at $71.14 on Thursday. The firm has a 50 day simple moving average of $57.47 and a two-hundred day simple moving average of $55.65. The stock has a market cap of $3.53 billion, a PE ratio of 23.95 and a beta of 0.65. Tidewater Inc. has a one year low of $31.17 and a one year high of $71.25. 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 posted its quarterly earnings data on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.48). Tidewater had a net margin of 11.14% and a return on equity of 14.86%. The company had revenue of $341.11 million for the quarter, compared to analysts’ expectations of $328.84 million. During the same quarter last year, the business posted $0.87 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts predict that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Tidewater 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.