Royal Bank of Canada Sells 16,641 Shares of Tidewater Inc. $TDW

Royal Bank of Canada decreased its position in shares of Tidewater Inc. (NYSE:TDW) by 90.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,763 shares of the oil and gas company’s stock after selling 16,641 shares during the period. Royal Bank of Canada’s holdings in Tidewater were worth $147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. acquired a new position in shares of Tidewater in the first quarter valued at about $26,000. Longview Financial Advisors Inc. acquired a new stake in Tidewater in the 1st quarter worth about $54,000. Parallel Advisors LLC raised its stake in Tidewater by 37.3% in the 1st quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 208 shares in the last quarter. Clearstead Advisors LLC raised its position in shares of Tidewater by 22.2% in the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 158 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Tidewater by 701.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 870 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Buying and Selling at Tidewater

In other Tidewater news, EVP Samuel R. Rubio sold 17,705 shares of Tidewater stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total value of $1,621,069.80. Following the sale, the executive vice president owned 33,214 shares of the company’s stock, valued at approximately $3,041,073.84. The trade was a 34.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

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

Tidewater Trading Up 0.0%

NYSE:TDW opened at $92.65 on Monday. Tidewater Inc. has a 52 week low of $46.65 and a 52 week high of $97.50. The firm has a 50-day moving average price of $78.94 and a two-hundred day moving average price of $78.97. 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 firm has a market cap of $4.61 billion, a price-to-earnings ratio of 18.76 and a beta of 0.53.

Tidewater (NYSE:TDW) last released its earnings results 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 net margin of 18.34% and a return on equity of 5.36%. The business had revenue of $342.29 million during the quarter, compared to the consensus estimate of $329.97 million. During the same period in the prior year, the company earned $1.46 earnings per share. The business’s revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Tidewater Inc. will post 3.08 earnings per share for the current fiscal 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.