Manatuck Hill Partners LLC purchased a new stake in Tidewater Inc. (NYSE:TDW – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 14,100 shares of the oil and gas company’s stock, valued at approximately $939,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Tidewater during the second quarter worth $503,200,000. Robotti Robert acquired a new stake in Tidewater in the second quarter valued at $193,652,000. Cerity Partners LLC increased its position in shares of Tidewater by 104.3% in the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock valued at $57,730,000 after buying an additional 583,607 shares in the last quarter. Old West Investment Management LLC purchased a new position in shares of Tidewater in the second quarter valued at $26,238,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Tidewater in the 2nd quarter worth about $24,842,000. Institutional investors and hedge funds own 95.13% of the company’s stock.
Insider Activity
In other news, EVP Samuel R. Rubio sold 17,705 shares of Tidewater stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total value of $1,621,069.80. Following the completion of the sale, the executive vice president owned 33,214 shares of the company’s stock, valued at $3,041,073.84. The trade was a 34.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by company insiders.
Tidewater Price Performance
Tidewater (NYSE:TDW – Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The firm had revenue of $342.29 million for the quarter, compared to analysts’ expectations of $329.97 million. During the same quarter last year, the firm earned $1.46 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts predict that Tidewater Inc. will post 3.08 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have weighed in on TDW. Weiss Ratings downgraded shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Barclays increased their price target on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Finally, Zacks Research lowered 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 assigned a Hold rating to the company. Based on data from MarketBeat, Tidewater presently has a consensus rating of “Hold” and a consensus target price of $91.00.
View Our Latest Stock Analysis on TDW
Tidewater Company 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.
Read More
- Five stocks we like better than Tidewater
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Receive News & Ratings for Tidewater Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tidewater and related companies with MarketBeat.com's FREE daily email newsletter.
