25,420 Shares in Tidewater Inc. $TDW Purchased by South Dakota Investment Council

South Dakota Investment Council purchased a new position in shares of Tidewater Inc. (NYSE:TDW) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 25,420 shares of the oil and gas company’s stock, valued at approximately $1,173,000.

A number of other large investors have also recently made changes to their positions in TDW. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Tidewater by 2,321.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 650 shares during the period. Bogart Wealth LLC purchased a new position in shares of Tidewater during the 1st quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Tidewater during the 1st quarter worth about $40,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Tidewater by 2,510.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 992 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 954 shares during the period. Finally, CWM LLC boosted its stake in shares of Tidewater by 83.6% during the 2nd quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 422 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Trading Up 2.7%

NYSE:TDW opened at $51.97 on Tuesday. Tidewater Inc. has a one year low of $31.17 and a one year high of $65.76. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11. The firm has a market cap of $2.57 billion, a P/E ratio of 13.46 and a beta of 1.05. The firm has a 50-day simple moving average of $54.29 and a 200-day simple moving average of $49.27.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Monday, August 4th. The oil and gas company reported $1.23 EPS for the quarter, beating the consensus estimate of $0.28 by $0.95. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The business had revenue of $341.43 million during the quarter, compared to analyst estimates of $317.28 million. During the same quarter in the previous year, the business posted $0.94 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Tidewater announced that its board has approved a stock repurchase plan on Monday, August 4th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas company to buy up to 21.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TDW shares. BTIG Research lowered shares of Tidewater from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Dnb Nor Markets lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a report on Wednesday, October 8th. Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Evercore ISI lifted their price objective on shares of Tidewater from $60.00 to $67.00 and gave the company an “in-line” rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $69.00.

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.