Hara Capital LLC Has $2.16 Million Stake in Tidewater Inc. (NYSE:TDW)

Hara Capital LLC reduced its stake in shares of Tidewater Inc. (NYSE:TDW) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,027 shares of the oil and gas company’s stock after selling 392 shares during the quarter. Tidewater comprises approximately 1.3% of Hara Capital LLC’s portfolio, making the stock its 17th largest holding. Hara Capital LLC’s holdings in Tidewater were worth $2,156,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Tidewater by 25.7% in the first quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock valued at $442,956,000 after purchasing an additional 985,398 shares in the last quarter. Boston Partners grew its stake in shares of Tidewater by 11.7% in the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after buying an additional 243,489 shares in the last quarter. Van ECK Associates Corp acquired a new position in Tidewater in the third quarter worth approximately $51,089,000. Hsbc Holdings PLC lifted its stake in shares of Tidewater by 11,317.3% in the 2nd quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock valued at $60,992,000 after purchasing an additional 639,765 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Tidewater by 72.1% during the second quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company’s stock worth $42,257,000 after buying an additional 185,972 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

Shares of NYSE:TDW traded down $0.80 during trading on Thursday, hitting $64.38. 288,952 shares of the stock were exchanged, compared to its average volume of 885,016. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 21.58 and a beta of 1.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 1.90. Tidewater Inc. has a 1-year low of $54.53 and a 1-year high of $111.42. The company’s fifty day simple moving average is $69.89 and its 200-day simple moving average is $87.35.

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

Tidewater declared that its Board of Directors 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 buy up to 0.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently issued reports on TDW. StockNews.com downgraded Tidewater from a “hold” rating to a “sell” rating in a research note on Saturday, October 26th. Raymond James increased their price target on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

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.