Punch & Associates Investment Management Inc. Has $16.85 Million Holdings in Tidewater Inc. $TDW

Punch & Associates Investment Management Inc. cut its stake in shares of Tidewater Inc. (NYSE:TDW) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 333,659 shares of the oil and gas company’s stock after selling 8,422 shares during the period. Punch & Associates Investment Management Inc. owned approximately 0.67% of Tidewater worth $16,853,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TDW. Clearstead Advisors LLC grew its stake in shares of Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 158 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of 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 purchasing an additional 870 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Tidewater during the second quarter worth $47,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Tidewater during the fourth quarter worth $53,000. Finally, Arax Advisory Partners acquired a new stake in shares of Tidewater during the fourth quarter worth $55,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TDW. Barclays lifted their price objective on Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Dawson James reissued an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Tidewater in a research note on Monday, June 1st. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Finally, Raymond James Financial set a $117.00 target price on Tidewater in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tidewater presently has a consensus rating of “Hold” and a consensus target price of $89.33.

Tidewater Price Performance

NYSE:TDW opened at $70.98 on Wednesday. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average price is $81.19 and its two-hundred day moving average price is $70.98. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 11.89 and a beta of 0.50. Tidewater Inc. has a 12-month low of $44.11 and a 12-month high of $93.13.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.63). The business had revenue of $326.22 million during the quarter, compared to the consensus estimate of $322.83 million. Tidewater had a net margin of 22.16% and a return on equity of 8.79%. Tidewater’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. On average, analysts anticipate that Tidewater Inc. will post 3.52 earnings per share for the current year.

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.