Sigma Planning Corp Makes New $1.71 Million Investment in Tidewater Inc. $TDW

Key Points

• Sigma Planning Corp initiated a new position in Tidewater, buying 20,416 shares worth about $1.71 million in the first quarter.
• Tidewater reported mixed quarterly results: revenue came in slightly above estimates at $326.22 million, but EPS of $0.12 missed expectations by a wide margin. Revenue also declined 2.2% from the prior year quarter.
• Analyst sentiment is still cautious overall, with Tidewater carrying a Hold consensus rating and an average price target of $89.33, even after several recent rating changes.

Sigma Planning Corp purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,416 shares of the oil and gas company's stock, valued at approximately $1,706,000.

A number of other hedge funds also recently made changes to their positions in TDW. Cerity Partners LLC lifted its holdings in shares of Tidewater by 104.3% during the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company's stock worth $57,730,000 after acquiring an additional 583,607 shares during the period. Fort Washington Investment Advisors Inc. OH acquired a new position in Tidewater in the fourth quarter worth about $21,922,000. Keybank National Association OH acquired a new position in Tidewater in the first quarter worth about $25,456,000. Canoe Financial LP bought a new position in Tidewater during the first quarter worth about $22,960,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in Tidewater by 631.6% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 282,838 shares of the oil and gas company's stock worth $23,631,000 after purchasing an additional 244,178 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Tidewater Stock Up 1.6%

NYSE TDW opened at $75.81 on Friday. The stock's 50 day simple moving average is $73.69 and its 200 day simple moving average is $73.27. Tidewater Inc. has a one year low of $46.65 and a one year high of $93.13. The firm has a market cap of $3.77 billion, a PE ratio of 12.70 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.33 and a quick ratio of 3.22.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.63). The business had revenue of $326.22 million during the quarter, compared to analyst estimates of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.Tidewater's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. As a group, sell-side analysts forecast that Tidewater Inc. will post 3.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays upped their price objective on Tidewater from $80.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Fearnley Fonds raised Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 5th. Weiss Ratings upgraded Tidewater from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. Pickering Energy Partners upgraded Tidewater from an "underperform" rating to a "neutral" rating in a research note on Thursday, June 11th. Finally, Zacks Research downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.33.

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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