CI Investments Inc. Sells 19,065 Shares of Tidewater Inc. $TDW

CI Investments Inc. trimmed its stake in shares of Tidewater Inc. (NYSE:TDW) by 61.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,081 shares of the oil and gas company’s stock after selling 19,065 shares during the period. CI Investments Inc.’s holdings in Tidewater were worth $1,009,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of TDW. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Tidewater during the 4th quarter valued at approximately $1,036,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Tidewater in the 4th quarter worth $1,953,000. Tejara Capital Ltd increased its holdings in shares of Tidewater by 127.6% in the fourth quarter. Tejara Capital Ltd now owns 44,600 shares of the oil and gas company’s stock worth $2,253,000 after purchasing an additional 25,000 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Tidewater by 286.0% during the third quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock valued at $9,986,000 after buying an additional 138,739 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in Tidewater in the fourth quarter worth $21,922,000. Institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

TDW has been the topic of several recent analyst reports. Barclays increased their target price on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Finally, Weiss Ratings upgraded Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $89.33.

Tidewater Stock Up 1.3%

Shares of TDW stock opened at $78.46 on Friday. Tidewater Inc. has a twelve month low of $46.65 and a twelve month high of $93.13. The stock has a market cap of $3.90 billion, a P/E ratio of 13.14 and a beta of 0.53. The stock has a 50 day moving average of $73.25 and a 200 day moving average of $74.19. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48.

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