NewEdge Advisors LLC Has $1.04 Million Stake in Tidewater Inc. $TDW

NewEdge Advisors LLC lifted its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 1,208.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,428 shares of the oil and gas company's stock after acquiring an additional 11,478 shares during the quarter. NewEdge Advisors LLC's holdings in Tidewater were worth $1,038,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Royal Bank of Canada boosted its position in Tidewater by 22.6% during the first quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company's stock worth $980,000 after purchasing an additional 4,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Tidewater by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company's stock valued at $1,227,000 after purchasing an additional 1,271 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Tidewater by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company's stock worth $1,895,000 after buying an additional 1,931 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Tidewater by 4.1% during the 2nd quarter. Cetera Investment Advisers now owns 8,010 shares of the oil and gas company's stock worth $370,000 after buying an additional 314 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Tidewater by 12.1% during the 2nd quarter. Invesco Ltd. now owns 227,443 shares of the oil and gas company's stock worth $10,492,000 after buying an additional 24,609 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TDW shares. Fearnley Fonds upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 5th. Zacks Research cut Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 19th. Pickering Energy Partners raised Tidewater from an "underperform" rating to a "neutral" rating in a research report on Thursday, June 11th. Weiss Ratings lowered Tidewater from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 28th. Finally, Barclays lifted their price target on Tidewater from $86.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Tidewater has an average rating of "Hold" and a consensus price target of $91.00.

Tidewater Trading Down 0.3%

TDW stock opened at $93.99 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. The company's 50-day simple moving average is $74.92 and its 200 day simple moving average is $77.14. Tidewater Inc. has a 52 week low of $46.65 and a 52 week high of $95.32. The company has a market capitalization of $4.68 billion, a PE ratio of 19.03 and a beta of 0.53.

Tidewater (NYSE:TDW - Get Free Report) last issued 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). The business had revenue of $342.29 million during the quarter, compared to analyst estimates of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.Tidewater's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 EPS. As a group, sell-side analysts anticipate that Tidewater Inc. will post 3.08 earnings per share for the current year.

Insider Activity

In related news, EVP Samuel R. Rubio sold 17,705 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the sale, the executive vice president owned 33,214 shares of the company's stock, valued at $3,041,073.84. This represents a 34.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.90% of the company's stock.

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.

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