Robotti Robert Takes Position in Tidewater Inc. $TDW

Robotti Robert bought a new position in shares of Tidewater Inc. (NYSE:TDW) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,906,380 shares of the oil and gas company’s stock, valued at approximately $193,652,000. Tidewater comprises 31.3% of Robotti Robert’s portfolio, making the stock its biggest position. Robotti Robert owned about 0.06% of Tidewater at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of TDW. Blue Trust Inc. bought a new position in shares of Tidewater during the 1st quarter valued at about $26,000. Longview Financial Advisors Inc. purchased a new stake in shares of Tidewater in the first quarter worth about $54,000. Parallel Advisors LLC boosted its stake in Tidewater by 37.3% during the first quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 208 shares during the last quarter. Clearstead Advisors LLC grew its holdings in Tidewater by 22.2% during the 4th 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 increased its stake 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 worth $46,000 after acquiring an additional 870 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Tidewater Stock Up 0.1%

NYSE TDW opened at $94.11 on Wednesday. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47. Tidewater Inc. has a 52 week low of $46.65 and a 52 week high of $95.32. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 19.05 and a beta of 0.53. The company has a fifty day moving average of $75.34 and a two-hundred day moving average of $77.37.

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 return on equity of 5.36% and a net margin of 18.34%.The firm had revenue of $342.29 million during the quarter, compared to the consensus estimate of $329.97 million. During the same quarter last year, the business posted $1.46 EPS. Tidewater’s revenue was up .3% compared to the same quarter last year. On average, analysts predict that Tidewater Inc. will post 3.08 earnings per share for the current year.

Insider Activity

In other news, EVP Samuel R. Rubio sold 17,705 shares of the company’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 transaction, the executive vice president owned 33,214 shares of the company’s stock, valued at approximately $3,041,073.84. This represents a 34.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Tidewater 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.