Calamos Advisors LLC Makes New $3.06 Million Investment in Tidewater Inc. $TDW

Calamos Advisors LLC purchased a new stake in Tidewater Inc. (NYSE:TDW) during the 1st quarter, Holdings Channel reports. The fund purchased 36,585 shares of the oil and gas company’s stock, valued at approximately $3,057,000.

Several other large investors have also modified their holdings of the business. Cerity Partners LLC raised its position in shares of Tidewater by 104.3% during the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after purchasing an additional 583,607 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in Tidewater during the fourth quarter worth $21,922,000. Keybank National Association OH purchased a new position in Tidewater during the first quarter worth $25,456,000. Canoe Financial LP acquired a new position in shares of Tidewater in the first quarter worth $22,960,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its holdings in shares of Tidewater by 631.6% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 282,838 shares of the oil and gas company’s stock worth $23,631,000 after acquiring an additional 244,178 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays increased their price objective on Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings upgraded shares of Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.33.

Tidewater Price Performance

Shares of NYSE:TDW opened at $74.99 on Thursday. The company has a market cap of $3.73 billion, a P/E ratio of 12.56 and a beta of 0.53. The business has a fifty day simple moving average of $73.86 and a 200-day simple moving average of $73.08. Tidewater Inc. has a 52 week low of $45.71 and a 52 week high of $93.13. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48.

Tidewater (NYSE:TDW) last released its 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 business had revenue of $326.22 million for the quarter, compared to analysts’ expectations of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 earnings per share. Equities research analysts forecast that Tidewater Inc. will post 3.52 EPS for the current year.

Tidewater 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.