Tidewater Inc. $TDW Stock Sold by Hosking Partners LLP

Hosking Partners LLP trimmed its position in Tidewater Inc. (NYSE:TDW) by 16.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 510,577 shares of the oil and gas company’s stock after selling 99,034 shares during the period. Tidewater makes up about 1.4% of Hosking Partners LLP’s portfolio, making the stock its 26th largest holding. Hosking Partners LLP’s holdings in Tidewater were worth $41,408,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TDW. BlackRock Inc. bought a new position in Tidewater during the 2nd quarter valued at $503,200,000. Robotti Robert acquired a new position in shares of Tidewater during the 2nd quarter valued at $193,652,000. Dimensional Fund Advisors LP increased 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 valued at $153,623,000 after purchasing an additional 86,084 shares during the period. Wellington Management Group LLP raised its stake in shares of Tidewater by 11.1% in the 2nd quarter. Wellington Management Group LLP now owns 1,475,804 shares of the oil and gas company’s stock worth $98,333,000 after buying an additional 147,189 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. raised its stake in shares of Tidewater by 4.3% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 347,913 shares of the oil and gas company’s stock worth $29,068,000 after buying an additional 14,254 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Trading Up 1.0%

NYSE TDW opened at $81.37 on Thursday. Tidewater Inc. has a twelve month low of $47.26 and a twelve month high of $101.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 16.47 and a beta of 0.60. The firm’s 50 day moving average price is $88.49 and its two-hundred day moving average price is $81.63.

Tidewater (NYSE:TDW) last announced 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). The firm had revenue of $342.29 million for the quarter, compared to analyst estimates of $329.97 million. Tidewater had a net margin of 18.34% and a return on equity of 5.36%. Tidewater’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm earned $1.46 earnings per share. Equities analysts anticipate that Tidewater Inc. will post 3.08 EPS for the current year.

Insider Activity

In other news, EVP Samuel Rubio sold 17,705 shares of Tidewater stock in a transaction 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 in the company, valued at approximately $3,041,073.84. The trade was a 34.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel Hudson sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were 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 $3,272,513.32. The trade was a 31.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 42,705 shares of company stock worth $4,097,270. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TDW has been the subject of several research analyst reports. Weiss Ratings upgraded Tidewater from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 12th. BTIG Research reaffirmed a “buy” rating and set a $120.00 target price on shares of Tidewater in a research note on Friday, October 9th. Finally, Barclays lifted their target price on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $98.25.

About Tidewater

Tidewater Inc (NYSE: TDW) is an offshore support vessel operator that provides marine transportation and logistics services to the global energy industry. The company supports offshore exploration, development, production, construction and decommissioning activities, transporting personnel, equipment and supplies between shore bases and offshore installations.

Tidewater operates a diverse fleet of vessels, including platform supply vessels, anchor-handling vessels, fast supply vessels, crew boats, tugboats and vessels used for subsea construction, survey and other specialized offshore work.