Harbor Capital Advisors Inc. Lowers Stock Position in Tidewater Inc. $TDW

by · The Cerbat Gem

Harbor Capital Advisors Inc. decreased its position in Tidewater Inc. (NYSE:TDW – Free Report) by 71.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,600 shares of the oil and gas company’s stock after selling 127,774 shares during the period. Harbor Capital Advisors Inc.’s holdings in Tidewater were worth $2,752,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. American Century Companies Inc. increased its stake in shares of Tidewater by 198.9% in the 1st quarter. American Century Companies Inc. now owns 142,027 shares of the oil and gas company’s stock valued at $6,003,000 after purchasing an additional 94,504 shares in the last quarter. Raymond James Financial Inc. grew its holdings in Tidewater by 271.7% in the first quarter. Raymond James Financial Inc. now owns 295,337 shares of the oil and gas company’s stock valued at $12,484,000 after purchasing an additional 215,891 shares during the period. AlphaQuest LLC increased its position in shares of Tidewater by 745.6% in the first quarter. AlphaQuest LLC now owns 6,756 shares of the oil and gas company’s stock valued at $286,000 after buying an additional 5,957 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Tidewater by 2,321.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 650 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Tidewater during the 1st quarter worth approximately $241,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TDW has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research note on Monday. Zacks Research lowered shares of Tidewater from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. Dnb Nor Markets cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Evercore ISI decreased their price target on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 12th. Finally, Fearnley Fonds upgraded Tidewater to a “hold” rating in a research note on Tuesday, September 16th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.50.

Check Out Our Latest Research Report on TDW

Tidewater Stock Performance

NYSE:TDW opened at $50.78 on Thursday. The company has a market cap of $2.52 billion, a P/E ratio of 17.10 and a beta of 0.58. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $64.07. The company’s 50-day moving average price is $53.20 and its 200-day moving average price is $53.11. 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 (NYSE:TDW – Get Free Report) last released its quarterly earnings data on Tuesday, November 11th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). Tidewater had a net margin of 11.14% and a return on equity of 14.86%. The business had revenue of $341.11 million during the quarter, compared to analyst estimates of $328.84 million. During the same quarter in the previous year, the company posted $0.87 EPS. The firm’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater Profile

(Free Report)

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.

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