Robotti Robert Takes $193.65 Million Position in Tidewater Inc. $TDW

Robotti Robert acquired a new stake in shares of Tidewater Inc. (NYSE:TDW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,906,380 shares of the oil and gas company’s stock, valued at approximately $193,652,000. Tidewater comprises approximately 31.3% of Robotti Robert’s investment portfolio, making the stock its largest position. Robotti Robert owned approximately 5.84% of Tidewater as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Tidewater during the 2nd quarter valued at $503,200,000. Deutsche Bank AG bought a new stake in shares of Tidewater in the second quarter worth $3,262,000. TimesSquare Capital Management LLC purchased a new stake in Tidewater during the second quarter valued at $15,465,000. Old West Investment Management LLC bought a new position in Tidewater in the second quarter valued at about $26,238,000. Finally, Bank of New York Mellon Corp purchased a new position in Tidewater in the second quarter worth about $24,842,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TDW. Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Barclays upped their target price on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Weiss Ratings downgraded shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Finally, Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $91.00.

Insiders Place Their Bets

In other Tidewater news, EVP Samuel R. Rubio sold 17,705 shares of the 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 in the company, valued at approximately $3,041,073.84. This represents a 34.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Tidewater Trading Up 0.1%

Shares of NYSE:TDW opened at $94.11 on Wednesday. The stock has a 50 day moving average of $75.34 and a 200 day moving average of $77.37. The company has a market cap of $4.68 billion, a PE ratio of 19.05 and a beta of 0.53. Tidewater Inc. has a 12-month low of $46.65 and a 12-month 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.

Tidewater (NYSE:TDW) last released its 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). The firm had revenue of $342.29 million for the quarter, compared to the consensus estimate of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.Tidewater’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 EPS. As a group, equities research analysts expect that Tidewater Inc. will post 3.08 EPS for the current year.

About Tidewater

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.