SummerHaven Investment Management LLC Acquires New Stake in Tidewater Inc. $TDW

SummerHaven Investment Management LLC purchased a new position in shares of Tidewater Inc. (NYSE:TDW) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 16,032 shares of the oil and gas company’s stock, valued at approximately $855,000.

Several other large investors have also recently modified their holdings of the business. Parkside Financial Bank & Trust raised its position in shares of Tidewater by 4,245.0% in the second quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 849 shares during the period. Bogart Wealth LLC lifted its position in shares of Tidewater by 28.6% during the second quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 200 shares in the last quarter. CWM LLC boosted its holdings in shares of Tidewater by 83.6% in the second quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 422 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Tidewater by 701.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 870 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Tidewater in the second quarter valued at $47,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Stock Performance

Tidewater stock opened at $63.29 on Wednesday. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $64.30. The company has a quick ratio of 2.79, a current ratio of 2.89 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $54.97 and a two-hundred day simple moving average of $54.45. The company has a market capitalization of $3.14 billion, a PE ratio of 21.31 and a beta of 0.63.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The company had revenue of $341.11 million during the quarter, compared to analysts’ expectations of $328.84 million. During the same period last year, the firm earned $0.87 earnings per share. Tidewater’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts expect that Tidewater Inc. will post 3.25 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on TDW. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Dnb Nor Markets downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Evercore ISI decreased their target price on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a report on Wednesday, November 12th. Finally, Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $67.50.

Tidewater Company 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.