CenterBook Partners LP Sells 147,855 Shares of Tidewater Inc. $TDW

CenterBook Partners LP decreased its holdings in shares of Tidewater Inc. (NYSE:TDW) by 77.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,588 shares of the oil and gas company’s stock after selling 147,855 shares during the period. CenterBook Partners LP’s holdings in Tidewater were worth $2,151,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Stratos Wealth Advisors LLC purchased a new position in Tidewater during the third quarter valued at $2,010,000. Fulcrum Asset Management LLP increased its holdings in shares of Tidewater by 226.1% during the third quarter. Fulcrum Asset Management LLP now owns 33,428 shares of the oil and gas company’s stock valued at $1,783,000 after acquiring an additional 23,177 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Tidewater in the 3rd quarter worth about $1,920,000. Public Sector Pension Investment Board boosted its stake in Tidewater by 15.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 179,489 shares of the oil and gas company’s stock worth $9,572,000 after purchasing an additional 24,352 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Tidewater in the 4th quarter worth about $1,036,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Stock Down 1.6%

TDW opened at $73.18 on Wednesday. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average price of $82.15 and a 200-day moving average price of $70.23. Tidewater Inc. has a twelve month low of $44.11 and a twelve month high of $93.13. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 12.26 and a beta of 0.49.

Tidewater (NYSE:TDW) last issued its earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.63). Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The company had revenue of $326.22 million during the quarter, compared to analysts’ expectations of $322.83 million. During the same quarter in the prior year, the business posted $0.83 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts forecast that Tidewater Inc. will post 3.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TDW. Raymond James Financial set a $117.00 price objective on shares of Tidewater in a research note on Tuesday, March 3rd. Barclays raised their price target on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tidewater in a research report on Monday, June 1st. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.33.

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.