Pacer Advisors Inc. Sells 13,711 Shares of Tidewater Inc. $TDW

Pacer Advisors Inc. trimmed its holdings in Tidewater Inc. (NYSE:TDW) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,282 shares of the oil and gas company’s stock after selling 13,711 shares during the period. Pacer Advisors Inc. owned about 0.42% of Tidewater worth $10,621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Gordian Capital Singapore Pte Ltd bought a new position in Tidewater in the 3rd quarter worth approximately $1,920,000. Fulcrum Asset Management LLP grew its holdings in Tidewater by 226.1% during the 3rd quarter. Fulcrum Asset Management LLP now owns 33,428 shares of the oil and gas company’s stock valued at $1,783,000 after buying an additional 23,177 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Tidewater during the fourth quarter valued at approximately $1,036,000. JPMorgan Chase & Co. raised its position in shares of Tidewater by 286.0% during the third quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock valued at $9,986,000 after buying an additional 138,739 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Tidewater in the fourth quarter worth $1,953,000. Institutional investors own 95.13% of the company’s stock.

Tidewater Price Performance

Tidewater stock opened at $64.64 on Monday. Tidewater Inc. has a 12-month low of $44.11 and a 12-month high of $93.13. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $79.93 and a 200-day moving average price of $71.23. The firm has a market capitalization of $3.21 billion, a PE ratio of 10.83 and a beta of 0.50.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Raymond James Financial set a $117.00 price objective on shares of Tidewater in a report on Tuesday, March 3rd. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Finally, Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $89.33.

Tidewater Company Profile

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.