Harbor Capital Advisors Inc. Buys 83,975 Shares of Tidewater Inc. (NYSE:TDW)

Harbor Capital Advisors Inc. increased its stake in shares of Tidewater Inc. (NYSE:TDW) by 207.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,391 shares of the oil and gas company’s stock after purchasing an additional 83,975 shares during the period. Harbor Capital Advisors Inc.’s holdings in Tidewater were worth $8,930,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sage Mountain Advisors LLC raised its stake in Tidewater by 4.8% during the 2nd quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock valued at $251,000 after buying an additional 120 shares during the last quarter. GAMMA Investing LLC increased its position in Tidewater by 135.4% during the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 153 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Tidewater by 71.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 156 shares during the period. Natixis Advisors LLC boosted its position in Tidewater by 0.7% in the second quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock worth $2,525,000 after purchasing an additional 174 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Tidewater by 9.9% during the 2nd quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock valued at $294,000 after purchasing an additional 279 shares during the period. Institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

TDW has been the topic of several recent research reports. Raymond James increased their price objective on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com downgraded shares of Tidewater from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tidewater has a consensus rating of “Moderate Buy” and an average price target of $111.25.

Tidewater Stock Down 2.1 %

NYSE TDW opened at $58.82 on Friday. Tidewater Inc. has a 52 week low of $54.53 and a 52 week high of $111.42. 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 company has a market capitalization of $3.09 billion, a P/E ratio of 19.48 and a beta of 1.15. The stock’s 50-day moving average price is $71.55 and its 200-day moving average price is $87.93.

Tidewater (NYSE:TDW) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, topping 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 analysts’ expectations of $331.85 million. During the same quarter last year, the business earned $0.46 EPS. The firm’s revenue was up 57.8% compared to the same quarter last year. On average, equities research analysts predict that Tidewater Inc. will post 4.4 earnings per share for the current year.

Tidewater declared that its board has authorized a share repurchase plan on Tuesday, August 6th that permits the company to buyback $13.90 million in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Tidewater Company 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.