Louisiana State Employees Retirement System Acquires New Position in Tidewater Inc. $TDW

Louisiana State Employees Retirement System purchased a new stake in Tidewater Inc. (NYSE:TDW) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 20,400 shares of the oil and gas company’s stock, valued at approximately $1,704,000.

A number of other large investors have also recently added to or reduced their stakes in TDW. Lido Advisors LLC increased its stake in shares of Tidewater by 2.8% in the fourth quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock worth $290,000 after purchasing an additional 149 shares during the period. Clearstead Advisors LLC boosted its holdings in Tidewater by 22.2% in the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 158 shares during the period. Parkside Financial Bank & Trust grew its position in Tidewater by 15.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,239 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 166 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Tidewater by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,579 shares of the oil and gas company’s stock worth $534,000 after purchasing an additional 200 shares during the period. Finally, Manatuck Hill Partners LLC lifted its stake in shares of Tidewater by 5.1% in the fourth quarter. Manatuck Hill Partners LLC now owns 4,100 shares of the oil and gas company’s stock valued at $207,000 after buying an additional 200 shares during the period. Institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings lowered Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 24th. Barclays raised their price target on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $89.33.

Tidewater Price Performance

Tidewater stock opened at $66.89 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33. The firm has a market cap of $3.33 billion, a P/E ratio of 11.20 and a beta of 0.53. The business’s fifty day moving average is $76.85 and its two-hundred day moving average is $71.71. Tidewater Inc. has a 52 week low of $45.71 and a 52 week high of $93.13.

Tidewater (NYSE:TDW) last announced its earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The business had revenue of $326.22 million during the quarter, compared to analyst estimates of $322.83 million. During the same quarter last year, the business posted $0.83 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts forecast that Tidewater Inc. will post 3.52 earnings per share for the current fiscal year.

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.