River Road Asset Management LLC Purchases 47,049 Shares of Tidewater Inc. $TDW

River Road Asset Management LLC raised its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 86.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,780 shares of the oil and gas company's stock after buying an additional 47,049 shares during the quarter. River Road Asset Management LLC owned 0.21% of Tidewater worth $5,090,000 as of its most recent SEC filing.

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A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of Tidewater by 69.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,904,826 shares of the oil and gas company's stock valued at $165,058,000 after acquiring an additional 1,598,513 shares in the last quarter. American Century Companies Inc. lifted its stake in Tidewater by 291.8% during the second quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company's stock worth $25,670,000 after purchasing an additional 414,454 shares during the period. Boston Partners boosted its holdings in Tidewater by 1,118.5% during the second quarter. Boston Partners now owns 283,676 shares of the oil and gas company's stock valued at $14,089,000 after purchasing an additional 260,395 shares in the last quarter. Robotti Robert grew its stake in shares of Tidewater by 8.5% in the 1st quarter. Robotti Robert now owns 2,856,631 shares of the oil and gas company's stock valued at $120,750,000 after purchasing an additional 223,651 shares during the period. Finally, Third Avenue Management LLC raised its holdings in shares of Tidewater by 37.6% in the 1st quarter. Third Avenue Management LLC now owns 809,258 shares of the oil and gas company's stock worth $34,207,000 after buying an additional 221,079 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Stock Up 1.6%

Shares of NYSE TDW opened at $54.88 on Tuesday. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $64.07. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.47. The firm's 50-day simple moving average is $52.64 and its 200 day simple moving average is $51.53. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 14.22 and a beta of 1.00.

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Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.48). The firm had revenue of $341.11 million for the quarter, compared to analyst estimates of $328.84 million. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 EPS. On average, research analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater declared that its Board of Directors has initiated a stock repurchase plan on Monday, August 4th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 21.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

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Several analysts recently commented on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Tidewater in a research note on Monday, November 24th. Zacks Research downgraded shares of Tidewater from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 13th. Fearnley Fonds raised shares of Tidewater to a "hold" rating in a report on Tuesday, September 16th. Dnb Nor Markets downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a report on Monday, October 20th. Finally, Evercore ISI reduced their price target on shares of Tidewater from $67.00 to $65.00 and set an "in-line" rating on the stock in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Tidewater has a consensus rating of "Hold" and a consensus price target of $67.50.

Get Our Latest Report on Tidewater

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.

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