Fulcrum Asset Management LLP Increases Stock Position in Tidewater Inc. $TDW

Fulcrum Asset Management LLP lifted its holdings in shares of Tidewater Inc. (NYSE:TDW) by 242.5% in the third quarter, HoldingsChannel reports. The firm owned 59,849 shares of the oil and gas company’s stock after acquiring an additional 42,376 shares during the period. Fulcrum Asset Management LLP’s holdings in Tidewater were worth $3,192,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Blume Capital Management Inc. lifted its stake in Tidewater by 128.3% in the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Tidewater by 401.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 413 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Tidewater by 701.6% during the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after buying an additional 870 shares in the last quarter. Headlands Technologies LLC purchased a new position in Tidewater during the second quarter worth $47,000. Finally, Wexford Capital LP acquired a new position in shares of Tidewater in the third quarter worth $56,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tidewater

In other Tidewater news, EVP Samuel R. Rubio sold 22,461 shares of Tidewater stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the sale, the executive vice president owned 60,066 shares in the company, valued at $4,808,283.30. The trade was a 27.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel A. Hudson sold 5,195 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.56, for a total transaction of $418,509.20. Following the transaction, the executive vice president directly owned 45,971 shares of the company’s stock, valued at approximately $3,703,423.76. This represents a 10.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 52,656 shares of company stock worth $4,079,112. 6.60% of the stock is owned by corporate insiders.

Tidewater Trading Down 1.1%

Shares of TDW opened at $75.27 on Thursday. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $88.99. The company has a market capitalization of $3.73 billion, a PE ratio of 11.27 and a beta of 0.57. The stock has a fifty day moving average of $69.07 and a two-hundred day moving average of $59.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.78 and a current ratio of 2.90.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $3.64. The business had revenue of $336.80 million during the quarter, compared to the consensus estimate of $329.39 million. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 earnings per share. As a group, analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TDW. Dawson James restated an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Finally, Raymond James Financial set a $117.00 price target on shares of Tidewater in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.