Pecaut & CO. bought a new stake in shares of Tidewater Inc. (NYSE:TDW – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,500 shares of the oil and gas company’s stock, valued at approximately $633,000.
Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new position in Tidewater in the first quarter worth approximately $26,000. Clearstead Advisors LLC lifted its position in shares of Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 158 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Tidewater by 701.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 870 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Tidewater during the second quarter worth $47,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Tidewater during the fourth quarter worth $53,000. 95.13% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently weighed in on TDW. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Weiss Ratings cut shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Finally, Barclays boosted their price target on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $91.00.
Tidewater Stock Performance
Shares of TDW stock opened at $94.35 on Friday. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 19.10 and a beta of 0.53. Tidewater Inc. has a 1-year low of $46.65 and a 1-year high of $95.32. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $74.53 and its 200-day simple moving average is $76.82.
Tidewater (NYSE:TDW – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The business had revenue of $342.29 million during the quarter, compared to analysts’ expectations of $329.97 million. During the same period in the prior year, the company posted $1.46 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts predict that Tidewater Inc. will post 3.08 earnings per share for the current fiscal year.
Insider Buying and Selling at Tidewater
In other news, EVP Samuel R. Rubio sold 17,705 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 33,214 shares in the company, valued at $3,041,073.84. This represents a 34.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is owned by corporate insiders.
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.
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