8,998 Shares in Tidewater Inc. $TDW Acquired by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. acquired a new position in shares of Tidewater Inc. (NYSE:TDW) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,998 shares of the oil and gas company’s stock, valued at approximately $752,000.

A number of other hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC raised its position in shares of Tidewater by 104.3% during the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after acquiring an additional 583,607 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Tidewater in the fourth quarter valued at about $21,922,000. Keybank National Association OH acquired a new stake in Tidewater in the first quarter worth about $25,456,000. Canoe Financial LP acquired a new stake in Tidewater in the first quarter worth about $22,960,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its holdings in Tidewater by 631.6% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 282,838 shares of the oil and gas company’s stock worth $23,631,000 after purchasing an additional 244,178 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Tidewater Trading Up 1.2%

Shares of NYSE TDW opened at $74.28 on Tuesday. The company’s fifty day moving average is $74.22 and its 200-day moving average is $72.74. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 12.44 and a beta of 0.53. Tidewater Inc. has a twelve month low of $45.71 and a twelve month high of $93.13. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). The firm had revenue of $326.22 million during the quarter, compared to the consensus estimate of $322.83 million. Tidewater had a net margin of 22.16% and a return on equity of 8.79%. Tidewater’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. Equities research analysts predict that Tidewater Inc. will post 3.52 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on TDW. Barclays raised their target price on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Finally, Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $89.33.

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.