Emerald Mutual Fund Advisers Trust Reduces Stake in Tidewater Inc. (NYSE:TDW)

Emerald Mutual Fund Advisers Trust lessened its position in shares of Tidewater Inc. (NYSE:TDW) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 188,338 shares of the oil and gas company’s stock after selling 13,166 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.36% of Tidewater worth $13,521,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Tidewater by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock valued at $442,956,000 after purchasing an additional 985,398 shares during the last quarter. Hsbc Holdings PLC raised its position in Tidewater by 11,317.3% in the second quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock worth $60,992,000 after acquiring an additional 639,765 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in shares of Tidewater during the 1st quarter worth $34,898,000. Boston Partners grew its position in shares of Tidewater by 11.7% during the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after acquiring an additional 243,489 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Tidewater by 622.0% in the 2nd quarter. Principal Financial Group Inc. now owns 277,346 shares of the oil and gas company’s stock worth $26,406,000 after purchasing an additional 238,933 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Tidewater Price Performance

NYSE:TDW opened at $58.82 on Friday. The stock has a market cap of $3.09 billion, a PE ratio of 19.48 and a beta of 1.15. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. The business’s 50-day simple moving average is $71.55 and its two-hundred day simple moving average is $87.93. Tidewater Inc. has a 52 week low of $54.53 and a 52 week high of $111.42.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The company had revenue of $339.20 million for the quarter, compared to the consensus estimate of $331.85 million. During the same period in the previous year, the firm posted $0.46 EPS. Tidewater’s revenue for the quarter was up 57.8% compared to the same quarter last year. As a group, analysts forecast that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

Tidewater announced that its board has authorized a share buyback program on Tuesday, August 6th that permits the company to repurchase $13.90 million in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 0.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com lowered Tidewater from a “hold” rating to a “sell” rating in a report on Saturday, October 26th. Raymond James boosted their price objective on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $111.25.

Tidewater Profile

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.