Cetera Investment Advisers Increases Stock Position in Tidewater Inc. $TDW

Key Points

• Cetera Investment Advisers more than doubled its Tidewater stake by 128% in the first quarter, bringing its holdings to 35,403 shares valued at approximately $2.96 million. Institutional investors collectively own 95.13% of TDW.
• Tidewater reported quarterly revenue of $342.29 million, exceeding estimates, but earnings per share of $0.43 fell short of the $0.46 consensus. Revenue increased slightly year over year, while EPS declined from $1.46 in the prior-year quarter.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $89.33. TDW recently opened at $81.21, below its 52-week high of $93.13.

Cetera Investment Advisers increased its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 128.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,403 shares of the oil and gas company's stock after buying an additional 19,872 shares during the period. Cetera Investment Advisers owned 0.07% of Tidewater worth $2,958,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp lifted its position in shares of Tidewater by 4.7% during the fourth quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company's stock worth $96,064,000 after acquiring an additional 85,697 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Tidewater by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,838,769 shares of the oil and gas company's stock valued at $153,623,000 after purchasing an additional 86,084 shares in the last quarter. Cerity Partners LLC grew its position in shares of Tidewater by 104.3% in the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company's stock valued at $57,730,000 after purchasing an additional 583,607 shares in the last quarter. Hosking Partners LLP raised its stake in shares of Tidewater by 11.3% during the 4th quarter. Hosking Partners LLP now owns 650,785 shares of the oil and gas company's stock valued at $32,871,000 after purchasing an additional 65,875 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Tidewater by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,282 shares of the oil and gas company's stock worth $28,148,000 after purchasing an additional 12,874 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Price Performance

TDW stock opened at $81.21 on Friday. The firm has a 50 day simple moving average of $72.59 and a two-hundred day simple moving average of $75.62. The stock has a market cap of $4.04 billion, a PE ratio of 16.44 and a beta of 0.53. Tidewater Inc. has a one year low of $46.65 and a one year high of $93.13. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.22.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The company had revenue of $342.29 million for the quarter, compared to analysts' expectations of $329.97 million. During the same quarter last year, the business posted $1.46 EPS. The business's quarterly revenue was up .3% compared to the same quarter last year. On average, analysts predict that Tidewater Inc. will post 3.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on TDW shares. Barclays raised their target price on Tidewater from $80.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Fearnley Fonds raised shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Friday, June 5th. Pickering Energy Partners upgraded shares of Tidewater from an "underperform" rating to a "neutral" rating in a research report on Thursday, June 11th. Weiss Ratings cut shares of Tidewater from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 28th. Finally, Zacks Research lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $89.33.

Tidewater Company 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.

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