SG Americas Securities LLC Has $1.37 Million Holdings in Tidewater Inc. $TDW

SG Americas Securities LLC decreased its stake in shares of Tidewater Inc. (NYSE:TDW) by 87.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,382 shares of the oil and gas company’s stock after selling 118,356 shares during the period. SG Americas Securities LLC’s holdings in Tidewater were worth $1,369,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TDW. Clearstead Advisors LLC boosted its stake in Tidewater by 22.2% in the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 158 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Tidewater by 701.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Tidewater in the 2nd quarter valued at about $47,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Tidewater in the fourth quarter valued at about $53,000. Finally, Wexford Capital LP bought a new stake in shares of Tidewater in the third quarter valued at about $56,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TDW shares. Weiss Ratings downgraded Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 24th. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Barclays lifted their price objective on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Tidewater currently has an average rating of “Hold” and an average target price of $89.33.

Tidewater Stock Performance

TDW opened at $67.94 on Friday. The business’s 50-day simple moving average is $76.18 and its 200 day simple moving average is $71.77. Tidewater Inc. has a 52-week low of $45.71 and a 52-week high of $93.13. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33. The firm has a market capitalization of $3.38 billion, a PE ratio of 11.38 and a beta of 0.53.

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

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.