Inspire Advisors LLC sells 182 shares of Tidewater Inc. (NYSE:TDW)

Inspire Advisors LLC reduced its holdings in Tidewater Inc. (NYSE:TDW – Free Report) by 6.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,490 shares of the oil and gas company’s stock after selling 182 shares during the period. Inspire Advisors LLC’s holdings in Tidewater were worth $237,000 as of its most recent SEC filing.

Several other large investors have recently added to or reduced their stakes in TDW. GAMMA Investing LLC increased its position in Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 153 shares during the last quarter. PNC Financial Services Group Inc. raised its position 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 worth $27,000 after acquiring an additional 156 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Tidewater in the 1st quarter valued at approximately $28,000. Headlands Technologies LLC boosted its stake in Tidewater by 6,322.2% in the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,138 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of Tidewater in the fourth quarter valued at $210,000. 95.13% of shares are held by institutional investors.

The Wall Street analyst weighs in

A number of analysts recently weighed in on TDW shares. Raymond James boosted 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 cut shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Moderate Buy” and an average price target of $111.25, according to MarketBeat .

Check out our latest review of Tidewater

Tidewater price performance

Shares of Tidewater stock opened at $71.48 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90, and a quick ratio of 1.82. The company has a market cap of $3.75 billion, a PE ratio of 28.48 and a beta of 1.13. The firm has a fifty day moving average price of $89.51 and a two hundred day moving average price of $93.25. Tidewater Inc. it has a fifty-two week low of $54.53 and a fifty-two week high of $111.42.

Tidewater (NYSE:TDW – Get Your Free Report ) last announced its quarterly earnings data 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 business had revenue of $339.20 million during the quarter, compared to analyst estimates of $331.85 million. In the same quarter last year, the company earned $0.46 per share. The company’s revenue for the quarter was up 57.8% year over year. Analysts expect Tidewater Inc. will record 4.4 EPS for the current year.

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

Tidewater profile

(Free report)

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry by operating a fleet of marine service vessels worldwide. Provides services in support of offshore oil and gas exploration, field development and production, and wind farm development and maintenance, including anchor towing and handling for mobile offshore drilling units; transportation of supplies and personnel required to support drilling, repair and production activities; offshore construction and seismic and subsea support; geotechnical research support for the construction of wind farms; and various specialized services, such as laying pipes and cables.

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