Moody Aldrich Partners LLC Decreases Stake in Tidewater Inc. (NYSE:TDW)

Moody Aldrich Partners LLC lowered its position in shares of Tidewater Inc. (NYSE:TDW) by 1.8% in the third quarter, Holdings Channel reports. The firm owned 66,637 shares of the oil and gas company’s stock after selling 1,235 shares during the period. Moody Aldrich Partners LLC’s holdings in Tidewater were worth $4,784,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TDW. GAMMA Investing LLC lifted its position in Tidewater by 135.4% during 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 in the last quarter. PNC Financial Services Group Inc. lifted its position in Tidewater by 71.6% during the 4th 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. Quarry LP acquired a new position in Tidewater during the 2nd quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new position in shares of Tidewater in the 1st quarter valued at approximately $28,000. Finally, Hollencrest Capital Management purchased a new position in shares of Tidewater during the 2nd quarter valued at approximately $30,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TDW. StockNews.com cut Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. Raymond James increased their target price on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Tidewater Stock Performance

TDW traded down $1.07 during trading hours on Thursday, hitting $60.73. 162,418 shares of the stock were exchanged, compared to its average volume of 881,863. The stock has a 50-day simple moving average of $75.34 and a 200-day simple moving average of $89.70. Tidewater Inc. has a 12 month low of $54.53 and a 12 month high of $111.42. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 20.46 and a beta of 1.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $339.20 million for the quarter, compared to analysts’ expectations of $331.85 million. During the same period last year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was up 57.8% on a year-over-year basis. Analysts anticipate that Tidewater Inc. will post 4.4 earnings per share for the current year.

Tidewater declared that its Board of Directors has initiated a stock buyback program on Tuesday, August 6th that permits the company to buyback $13.90 million in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 0.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

About Tidewater

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.