Federated Hermes Inc. Has $23.02 Million Stock Position in Tidewater Inc. $TDW

Federated Hermes Inc. lowered its stake in shares of Tidewater Inc. (NYSE:TDW) by 29.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 431,650 shares of the oil and gas company’s stock after selling 179,647 shares during the period. Federated Hermes Inc. owned 0.87% of Tidewater worth $23,020,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised 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 acquiring an additional 4,278 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Tidewater by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock worth $1,227,000 after purchasing an additional 1,271 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 purchasing an additional 1,931 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Tidewater by 1.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 27,092 shares of the oil and gas company’s stock valued at $1,249,000 after purchasing an additional 426 shares during the period. Finally, Mraz Amerine & Associates Inc. lifted its stake in Tidewater by 10.5% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 47,866 shares of the oil and gas company’s stock valued at $2,208,000 after purchasing an additional 4,553 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Price Performance

Tidewater stock opened at $62.60 on Friday. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 21.08 and a beta of 0.63. The company has a current ratio of 2.89, a quick ratio of 2.79 and a debt-to-equity ratio of 0.57. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $64.88. The stock’s 50 day moving average is $55.45 and its 200-day moving average is $54.64.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.48). The firm had revenue of $341.11 million during the quarter, compared to the consensus estimate of $328.84 million. Tidewater had a net margin of 11.14% and a return on equity of 14.86%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.87 earnings per share. Equities research analysts expect that Tidewater Inc. will post 3.25 EPS for the current year.

Analysts Set New Price Targets

TDW has been the topic of a number of recent analyst reports. 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Dnb Nor Markets lowered Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $67.50.

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.