Pacer Advisors Inc. Acquires 1,390,951 Shares of Tidewater Inc. (NYSE:TDW)

Pacer Advisors Inc. lifted its holdings in Tidewater Inc. (NYSE:TDW) by 42,719.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,394,207 shares of the oil and gas company’s stock after acquiring an additional 1,390,951 shares during the quarter. Pacer Advisors Inc.’s holdings in Tidewater were worth $76,277,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Quarry LP bought a new stake in Tidewater in the second quarter worth $27,000. Fortitude Family Office LLC purchased a new position in shares of Tidewater in the fourth quarter worth about $33,000. GAMMA Investing LLC lifted its stake in shares of Tidewater by 163.5% in the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 435 shares during the last quarter. Northwest & Ethical Investments L.P. purchased a new stake in Tidewater during the 3rd quarter valued at about $65,000. Finally, FNY Investment Advisers LLC bought a new position in Tidewater during the 4th quarter worth approximately $95,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Insider Activity

In other Tidewater news, CEO Quintin Kneen acquired 41,615 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the purchase, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at approximately $8,470,046.34. The trade was a 30.91 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Tidewater Stock Down 0.6 %

Shares of Tidewater stock opened at $55.16 on Monday. The company’s fifty day simple moving average is $52.25 and its two-hundred day simple moving average is $68.70. Tidewater Inc. has a 12-month low of $46.50 and a 12-month high of $111.42. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The company has a market cap of $2.89 billion, a P/E ratio of 16.22 and a beta of 1.06.

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

About Tidewater

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.