South Dakota Investment Council Sells 11,700 Shares of Tidewater Inc. $TDW

South Dakota Investment Council lowered its stake in Tidewater Inc. (NYSE:TDW) by 10.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,242 shares of the oil and gas company’s stock after selling 11,700 shares during the period. South Dakota Investment Council owned 0.20% of Tidewater worth $8,208,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Tidewater by 4.7% during the fourth quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock valued at $96,064,000 after buying an additional 85,697 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tidewater by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,838,769 shares of the oil and gas company’s stock worth $153,623,000 after acquiring an additional 86,084 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Tidewater by 104.3% during the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock valued at $57,730,000 after acquiring an additional 583,607 shares in the last quarter. Hosking Partners LLP raised its position in shares of Tidewater by 11.3% in the 4th quarter. Hosking Partners LLP now owns 650,785 shares of the oil and gas company’s stock worth $32,871,000 after purchasing an additional 65,875 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Tidewater by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,282 shares of the oil and gas company’s stock worth $28,148,000 after purchasing an additional 12,874 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

TDW has been the topic of a number of analyst reports. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Weiss Ratings cut shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Zacks Research downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Barclays increased their price target on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Finally, Fearnley Fonds raised shares of 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 issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.33.

Tidewater Trading Up 0.8%

Tidewater stock opened at $73.63 on Friday. Tidewater Inc. has a one year low of $46.65 and a one year high of $93.13. The business’s fifty day moving average is $72.56 and its 200 day moving average is $74.91. The stock has a market capitalization of $3.66 billion, a PE ratio of 12.33 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) last issued 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). The business had revenue of $326.22 million during the quarter, compared to analysts’ expectations of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.Tidewater’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.83 EPS. On average, sell-side analysts predict that Tidewater Inc. will post 3.52 EPS for the current 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.