Tidewater Inc. $TDW Position Cut by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its holdings in shares of Tidewater Inc. (NYSE:TDW) by 50.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,930 shares of the oil and gas company’s stock after selling 31,873 shares during the period. Texas Permanent School Fund Corp owned approximately 0.06% of Tidewater worth $1,427,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TDW. Northwestern Mutual Wealth Management Co. increased 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 purchasing an additional 650 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Tidewater in the first quarter worth about $40,000. Parkside Financial Bank & Trust grew its position in Tidewater by 4,245.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 849 shares in the last quarter. Bogart Wealth LLC increased 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 buying an additional 200 shares during the period. Finally, CWM LLC raised its position 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 buying an additional 422 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Price Performance

NYSE TDW opened at $51.02 on Wednesday. The stock has a market capitalization of $2.53 billion, a P/E ratio of 17.18 and a beta of 0.58. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $64.07. The business’s fifty day moving average is $53.19 and its two-hundred day moving average is $53.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.79 and a current ratio of 2.89.

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 the consensus estimate of $0.46 by ($0.48). The company had revenue of $341.11 million for the quarter, compared to the consensus estimate of $328.84 million. Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share. On average, research analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TDW has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a report on Monday. Fearnley Fonds upgraded Tidewater to a “hold” rating in a research report on Tuesday, September 16th. Evercore ISI lowered their price target 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. Zacks Research downgraded Tidewater from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. Finally, Dnb Nor Markets lowered 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. Based on data from MarketBeat.com, Tidewater currently has a consensus rating of “Hold” and a consensus target price of $67.50.

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.