Legacy Capital Group California Inc. Purchases Shares of 8,998 Tidewater Inc. $TDW

Legacy Capital Group California Inc. purchased a new stake in Tidewater Inc. (NYSE:TDW) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,998 shares of the oil and gas company’s stock, valued at approximately $752,000.

Other large investors also recently made changes to their positions in the company. Fulcrum Asset Management LLP boosted its stake in Tidewater by 226.1% in the 3rd quarter. Fulcrum Asset Management LLP now owns 33,428 shares of the oil and gas company’s stock worth $1,783,000 after purchasing an additional 23,177 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Tidewater in the 4th quarter valued at about $1,036,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Tidewater in the 4th quarter valued at about $1,953,000. Tejara Capital Ltd lifted its holdings in shares of Tidewater by 127.6% in the fourth quarter. Tejara Capital Ltd now owns 44,600 shares of the oil and gas company’s stock valued at $2,253,000 after purchasing an additional 25,000 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Tidewater by 286.0% during the third quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock worth $9,986,000 after buying an additional 138,739 shares during the period. Institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TDW shares. Weiss Ratings raised Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. 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. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Finally, Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Tidewater presently has an average rating of “Hold” and an average target price of $89.33.

Tidewater Stock Up 1.2%

NYSE:TDW opened at $74.28 on Tuesday. Tidewater Inc. has a twelve month low of $45.71 and a twelve month high of $93.13. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 12.44 and a beta of 0.53. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average price is $74.22 and its two-hundred day moving average price is $72.74.

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 firm had revenue of $326.22 million during the quarter, compared to the consensus estimate of $322.83 million. Tidewater had a net margin of 22.16% and a return on equity of 8.79%. Tidewater’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. Equities research analysts expect that Tidewater Inc. will post 3.52 earnings per share for the current fiscal 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.