Pacer Advisors Inc. Boosts Stock Holdings in Tidewater Inc. (NYSE:TDW)

Pacer Advisors Inc. boosted its position in Tidewater Inc. (NYSE:TDW) by 42,719.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,394,207 shares of the oil and gas company’s stock after buying an additional 1,390,951 shares during the quarter. Pacer Advisors Inc. owned approximately 2.66% of Tidewater worth $76,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Drive Wealth Management LLC purchased a new stake in Tidewater in the 4th quarter worth about $233,000. Inspire Investing LLC boosted its position in Tidewater by 27.6% during the fourth quarter. Inspire Investing LLC now owns 7,971 shares of the oil and gas company’s stock worth $436,000 after purchasing an additional 1,726 shares during the period. Value Holdings Management CO. LLC purchased a new position in shares of Tidewater in the fourth quarter worth about $1,778,000. Alhambra Investment Management LLC bought a new stake in shares of Tidewater in the fourth quarter valued at approximately $220,000. Finally, Fermata Advisors LLC lifted its stake in shares of Tidewater by 20.7% during the 4th quarter. Fermata Advisors LLC now owns 3,970 shares of the oil and gas company’s stock valued at $217,000 after buying an additional 680 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

Tidewater Price Performance

NYSE:TDW opened at $55.16 on Monday. Tidewater Inc. has a 52-week low of $46.50 and a 52-week high of $111.42. The stock has a fifty day moving average of $52.25 and a 200 day moving average of $68.70. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 16.22 and a beta of 1.06.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $340.36 million during the quarter, compared to the consensus estimate of $339.65 million. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. During the same quarter last year, the company posted $0.77 EPS. On average, research analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $131.00 to $102.00 in a research report on Monday, November 11th. DNB Markets initiated coverage on Tidewater in a report on Friday, November 29th. They set a “buy” rating and a $70.00 price objective on the stock. Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Evercore ISI downgraded shares of Tidewater from an “outperform” rating to an “in-line” rating and lowered their price target for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.60.

Insiders Place Their Bets

In other news, CEO Quintin Kneen purchased 41,615 shares of the stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the transaction, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 8.33% of the company’s stock.

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.