Precision Wealth Strategies LLC Has $238,000 Stock Position in Tidewater Inc. (NYSE:TDW)

Precision Wealth Strategies LLC decreased its holdings in shares of Tidewater Inc. (NYSE:TDW) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,315 shares of the oil and gas company’s stock after selling 399 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Tidewater were worth $238,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TDW. Goldman Sachs Group Inc. increased its stake in shares of Tidewater by 17.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 341,935 shares of the oil and gas company’s stock worth $24,657,000 after purchasing an additional 50,301 shares during the last quarter. Vanguard Group Inc. grew its stake in Tidewater by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 3,829,340 shares of the oil and gas company’s stock valued at $276,134,000 after buying an additional 30,740 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 156 shares during the last quarter. Fermata Advisors LLC acquired a new position in Tidewater in the 1st quarter valued at $253,000. Finally, 180 Wealth Advisors LLC grew its stake in Tidewater by 28.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 4,000 shares of the oil and gas company’s stock valued at $368,000 after buying an additional 896 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TDW. StockNews.com lowered shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. Raymond James raised their target price on shares of Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 8th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.25.

Tidewater Stock Performance

NYSE TDW opened at $63.02 on Tuesday. 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 firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 20.87 and a beta of 1.12. The company’s fifty day moving average is $76.25 and its two-hundred day moving average is $90.14. Tidewater Inc. has a 52-week low of $54.53 and a 52-week high of $111.42.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.22. The company had revenue of $339.20 million for the quarter, compared to analyst estimates of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The business’s quarterly revenue was up 57.8% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. Equities research analysts forecast that Tidewater Inc. will post 4.4 EPS for the current year.

Tidewater declared that its board has approved a share repurchase program on Tuesday, August 6th that allows the company to buyback $13.90 million in shares. This buyback authorization allows the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Tidewater 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.