XTX Topco Ltd Sells 12,195 Shares of Tidewater Inc. $TDW

XTX Topco Ltd cut its position in shares of Tidewater Inc. (NYSE:TDW) by 72.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,535 shares of the oil and gas company’s stock after selling 12,195 shares during the period. XTX Topco Ltd’s holdings in Tidewater were worth $209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TDW. Price T Rowe Associates Inc. MD grew its stake in Tidewater by 69.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,904,826 shares of the oil and gas company’s stock worth $165,058,000 after purchasing an additional 1,598,513 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Tidewater by 291.8% in the 2nd quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company’s stock valued at $25,670,000 after purchasing an additional 414,454 shares in the last quarter. Boston Partners lifted its position in shares of Tidewater by 1,118.5% in the 2nd quarter. Boston Partners now owns 283,676 shares of the oil and gas company’s stock worth $14,089,000 after purchasing an additional 260,395 shares during the period. Robotti Robert increased its holdings in Tidewater by 8.5% during the first quarter. Robotti Robert now owns 2,856,631 shares of the oil and gas company’s stock valued at $120,750,000 after buying an additional 223,651 shares during the period. Finally, Third Avenue Management LLC raised its stake in Tidewater by 37.6% in the first quarter. Third Avenue Management LLC now owns 809,258 shares of the oil and gas company’s stock worth $34,207,000 after buying an additional 221,079 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TDW. Evercore ISI reduced their price target on Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a research report on Wednesday, November 12th. Dnb Nor Markets downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Fearnley Fonds upgraded shares of Tidewater to a “hold” rating in a report on Tuesday, September 16th. Zacks Research lowered shares of Tidewater from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tidewater has an average rating of “Hold” and an average price target of $67.50.

Tidewater Price Performance

TDW stock opened at $58.11 on Wednesday. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $64.07. The company has a current ratio of 2.89, a quick ratio of 2.79 and a debt-to-equity ratio of 0.57. The business has a 50 day simple moving average of $52.87 and a 200-day simple moving average of $52.26. The company has a market capitalization of $2.88 billion, a P/E ratio of 19.57 and a beta of 0.58.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.48). The company had revenue of $341.11 million for the quarter, compared to analyst estimates of $328.84 million. Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share. As a group, equities analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current year.

Tidewater Company Profile

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.