Mutual of America Capital Management LLC Trims Position in Tidewater Inc. (NYSE:TDW)

Mutual of America Capital Management LLC trimmed its position in shares of Tidewater Inc. (NYSE:TDW) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,010 shares of the oil and gas company’s stock after selling 282 shares during the period. Mutual of America Capital Management LLC’s holdings in Tidewater were worth $296,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TDW. Price T Rowe Associates Inc. MD raised its holdings in Tidewater by 20.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock valued at $126,180,000 after acquiring an additional 390,814 shares during the period. Encompass Capital Advisors LLC grew its position in shares of Tidewater by 17.7% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company’s stock worth $86,569,000 after purchasing an additional 238,170 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Tidewater by 22.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company’s stock valued at $84,888,000 after purchasing an additional 286,097 shares during the period. Ameriprise Financial Inc. raised its stake in Tidewater by 13.2% during the 4th quarter. Ameriprise Financial Inc. now owns 867,875 shares of the oil and gas company’s stock valued at $47,473,000 after purchasing an additional 101,159 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its holdings in Tidewater by 51.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 624,236 shares of the oil and gas company’s stock worth $34,152,000 after purchasing an additional 212,189 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Tidewater from $60.00 to $67.00 and gave the company an “in-line” rating in a research report on Wednesday, August 6th. BTIG Research downgraded shares of Tidewater from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Finally, Raymond James Financial dropped their price objective on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $69.00.

Insider Activity at Tidewater

In related news, Director Robert Robotti bought 15,000 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was purchased at an average price of $42.05 per share, for a total transaction of $630,750.00. Following the acquisition, the director owned 2,234,957 shares in the company, valued at $93,979,941.85. This trade represents a 0.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Daniel A. Hudson sold 10,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total value of $575,600.00. Following the sale, the executive vice president owned 75,986 shares in the company, valued at $4,373,754.16. The trade was a 11.63% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 25,560 shares of company stock worth $1,074,858 over the last three months. 6.60% of the stock is currently owned by insiders.

Tidewater Trading Up 1.0%

TDW stock opened at $55.40 on Wednesday. The firm has a fifty day moving average price of $49.43 and a 200 day moving average price of $45.14. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $91.40. The firm has a market cap of $2.74 billion, a PE ratio of 14.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.95. The business had revenue of $341.43 million during the quarter, compared to analysts’ expectations of $317.28 million. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. Sell-side analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater declared that its board has approved a share repurchase program on Monday, August 4th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the oil and gas company to purchase up to 21.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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.