23,739 Shares in Tidewater Inc. $TDW Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in shares of Tidewater Inc. (NYSE:TDW) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,739 shares of the oil and gas company’s stock, valued at approximately $1,582,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Tidewater during the 4th quarter valued at $1,953,000. Tejara Capital Ltd raised its holdings in shares of Tidewater by 127.6% during the fourth quarter. Tejara Capital Ltd now owns 44,600 shares of the oil and gas company’s stock worth $2,253,000 after acquiring an additional 25,000 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Tidewater by 6.7% during the first quarter. Bank of New York Mellon Corp now owns 323,869 shares of the oil and gas company’s stock worth $27,059,000 after acquiring an additional 20,472 shares in the last quarter. Readystate Asset Management LP acquired a new stake in Tidewater during the first quarter valued at $1,662,000. Finally, Robotti Robert acquired a new stake in Tidewater during the second quarter valued at $193,652,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Price Performance

Shares of Tidewater stock opened at $94.61 on Friday. The firm has a fifty day simple moving average of $81.38 and a 200-day simple moving average of $79.73. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47. Tidewater Inc. has a 1-year low of $46.65 and a 1-year high of $101.57. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 19.15 and a beta of 0.56.

Tidewater (NYSE:TDW) last posted its quarterly earnings data 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). The firm had revenue of $342.29 million for the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $1.46 earnings per share. On average, sell-side analysts expect that Tidewater Inc. will post 3.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TDW shares. Barclays upped their target price on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. BTIG Research raised Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Tuesday. Weiss Ratings downgraded Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Finally, Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.25.

Insider Buying and Selling at Tidewater

In other news, EVP Daniel A. Hudson sold 15,000 shares of Tidewater stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $99.08, for a total value of $1,486,200.00. Following the transaction, the executive vice president directly owned 33,029 shares in the company, valued at approximately $3,272,513.32. The trade was a 31.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Traub sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $99.00, for a total value of $990,000.00. Following the transaction, the director directly owned 63,521 shares of the company’s stock, valued at $6,288,579. This represents a 13.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 42,705 shares of company stock worth $4,097,270 over the last ninety days. Company insiders own 5.90% of the company’s stock.

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.