Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Acquires New Position in Tidewater Inc. (NYSE:TDW)

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new position in shares of Tidewater Inc. (NYSE:TDW) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 40,000 shares of the oil and gas company’s stock, valued at approximately $1,691,000. Tidewater accounts for approximately 0.9% of Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings, making the stock its 22nd largest position.

Several other hedge funds have also made changes to their positions in the business. Signaturefd LLC lifted its holdings in shares of Tidewater by 33.3% during the first quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 282 shares during the period. EverSource Wealth Advisors LLC increased its position in Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 333 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in Tidewater by 1.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 27,448 shares of the oil and gas company’s stock valued at $1,160,000 after buying an additional 405 shares during the period. Tower Research Capital LLC TRC grew its holdings in Tidewater by 13.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,154 shares of the oil and gas company’s stock valued at $227,000 after buying an additional 479 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Tidewater by 0.9% during the 4th quarter. Russell Investments Group Ltd. now owns 55,202 shares of the oil and gas company’s stock worth $3,020,000 after purchasing an additional 496 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

Shares of NYSE:TDW traded up $0.66 during trading on Friday, hitting $49.28. 31,604 shares of the stock were exchanged, compared to its average volume of 1,052,603. The company’s fifty day simple moving average is $45.15 and its 200-day simple moving average is $45.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.00 and a current ratio of 2.07. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 14.72 and a beta of 1.08. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $106.50.

Tidewater (NYSE:TDW) last released its earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.24. Tidewater had a return on equity of 15.97% and a net margin of 12.98%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. Sell-side analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert Robotti acquired 15,000 shares of the stock in a transaction on Wednesday, June 4th. The shares were purchased at an average price of $42.05 per share, for a total transaction of $630,750.00. Following the purchase, the director directly owned 2,234,957 shares in the company, valued at approximately $93,979,941.85. The trade was a 0.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Daniel A. Hudson sold 5,000 shares of Tidewater stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $50.02, for a total value of $250,100.00. Following the completion of the transaction, the executive vice president owned 85,986 shares in the company, valued at approximately $4,301,019.72. The trade was a 5.50% decrease in their position. The disclosure for this sale can be found here. Insiders have bought 25,560 shares of company stock valued at $1,074,858 over the last ninety days. 8.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. BTIG Research lowered Tidewater from a “buy” rating to a “neutral” rating in a research report on Monday. Raymond James Financial lowered their price objective on Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $69.33.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.