Punch & Associates Investment Management Inc. Sells 8,422 Shares of Tidewater Inc. $TDW

Punch & Associates Investment Management Inc. lowered its position in shares of Tidewater Inc. (NYSE:TDW) by 2.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 333,659 shares of the oil and gas company’s stock after selling 8,422 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in Tidewater were worth $16,853,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in TDW. Cerity Partners LLC increased its stake in shares of Tidewater by 104.3% during the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after purchasing an additional 583,607 shares during the period. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Tidewater during the fourth quarter worth approximately $21,922,000. American Century Companies Inc. increased its stake in Tidewater by 74.2% during the 3rd quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock worth $51,698,000 after acquiring an additional 412,911 shares during the period. Victory Capital Management Inc. increased its stake in Tidewater by 319.1% during the 3rd quarter. Victory Capital Management Inc. now owns 303,015 shares of the oil and gas company’s stock worth $16,160,000 after acquiring an additional 230,706 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Tidewater by 159.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 358,563 shares of the oil and gas company’s stock worth $16,541,000 after acquiring an additional 220,473 shares during the period. Institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TDW has been the topic of a number of recent research reports. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Barclays raised 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 restated an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Finally, Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Tidewater currently has a consensus rating of “Hold” and a consensus target price of $89.33.

Tidewater Trading Down 4.5%

Shares of TDW stock opened at $70.98 on Wednesday. The stock’s fifty day moving average price is $81.19 and its two-hundred day moving average price is $70.98. The company has a market cap of $3.53 billion, a PE ratio of 11.89 and a beta of 0.50. Tidewater Inc. has a fifty-two week low of $44.11 and a fifty-two week high of $93.13. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33.

Tidewater (NYSE:TDW) last issued its earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). The business had revenue of $326.22 million during the quarter, compared to analyst estimates of $322.83 million. Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 EPS. Equities analysts predict that Tidewater Inc. will post 3.52 EPS for the current fiscal 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.