Orchard Capital Management LLC Makes New $3.25 Million Investment in Tidewater Inc. $TDW

Orchard Capital Management LLC bought a new position in shares of Tidewater Inc. (NYSE:TDW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 48,760 shares of the oil and gas company’s stock, valued at approximately $3,249,000. Tidewater makes up 3.2% of Orchard Capital Management LLC’s holdings, making the stock its 10th largest position. Orchard Capital Management LLC owned about 0.10% of Tidewater at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TDW. BlackRock Inc. acquired a new position in Tidewater during the second quarter worth $503,200,000. Robotti Robert acquired a new stake in Tidewater in the second quarter valued at $193,652,000. State Street Corp lifted its holdings in Tidewater by 4.7% in the fourth quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock valued at $96,064,000 after acquiring an additional 85,697 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Tidewater by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,838,769 shares of the oil and gas company’s stock worth $153,623,000 after purchasing an additional 86,084 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Tidewater by 104.3% during the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after purchasing an additional 583,607 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Tidewater Trading Down 0.3%

Shares of TDW stock opened at $96.17 on Friday. The stock has a market cap of $4.79 billion, a P/E ratio of 19.47 and a beta of 0.53. 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 fifty-two week low of $46.65 and a fifty-two week high of $97.50. The business has a fifty day simple moving average of $76.58 and a 200-day simple moving average of $77.96.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). The business had revenue of $342.29 million during the quarter, compared to analysts’ expectations of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.Tidewater’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 earnings per share. On average, analysts forecast that Tidewater Inc. will post 3.08 earnings per share for the current fiscal year.

Insider Transactions at Tidewater

In other Tidewater news, EVP Samuel R. Rubio sold 17,705 shares of the company’s 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 $3,041,073.84. This represents a 34.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.