297,114 Shares in Tidewater Inc. $TDW Acquired by Valueworks LLC

Valueworks LLC bought a new position in Tidewater Inc. (NYSE:TDW) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 297,114 shares of the oil and gas company’s stock, valued at approximately $19,797,000. Tidewater accounts for about 4.1% of Valueworks LLC’s investment portfolio, making the stock its 8th largest position. Valueworks LLC owned approximately 0.60% of Tidewater at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TDW. BlackRock Inc. purchased a new position in shares of Tidewater in the 2nd quarter worth $503,200,000. Robotti Robert purchased a new stake in Tidewater during the second quarter valued at $193,652,000. State Street Corp increased its position in Tidewater by 4.7% during the fourth quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock valued at $96,064,000 after acquiring an additional 85,697 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tidewater by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,838,769 shares of the oil and gas company’s stock valued at $153,623,000 after acquiring an additional 86,084 shares during the period. Finally, Cerity Partners LLC lifted its holdings in 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 acquiring an additional 583,607 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TDW. Zacks Research downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Barclays raised their price objective on shares of Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Weiss Ratings lowered shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Finally, Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. One 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 stock has an average rating of “Hold” and an average price target of $91.00.

Insider Activity

In related news, EVP Samuel R. Rubio sold 17,705 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the transaction, the executive vice president directly owned 33,214 shares in the company, valued at approximately $3,041,073.84. The trade was a 34.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.90% of the company’s stock.

Tidewater Price Performance

NYSE TDW opened at $93.17 on Friday. The company has a market capitalization of $4.64 billion, a PE ratio of 18.86 and a beta of 0.53. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. The business’s fifty day moving average is $78.38 and its 200 day moving average is $78.79. Tidewater Inc. has a fifty-two week low of $46.65 and a fifty-two week high of $97.50.

Tidewater (NYSE:TDW) 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 company had revenue of $342.29 million during the quarter, compared to analysts’ expectations of $329.97 million. During the same quarter in the previous year, the company earned $1.46 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts predict that Tidewater Inc. will post 3.08 earnings per share for the current year.

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.