SIR Capital Management L.P. Acquires New Holdings in Tidewater Inc. $TDW

SIR Capital Management L.P. bought a new position in shares of Tidewater Inc. (NYSE:TDW) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 61,850 shares of the oil and gas company’s stock, valued at approximately $4,121,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in Tidewater in the 2nd quarter valued at $503,200,000. Robotti Robert purchased a new stake in shares of Tidewater in the second quarter worth $193,652,000. Cerity Partners LLC boosted its stake in 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 valued at $57,730,000 after buying an additional 583,607 shares during the period. Old West Investment Management LLC purchased a new position in Tidewater during the second quarter worth about $26,238,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Tidewater in the 2nd quarter valued at about $24,842,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Price Performance

Shares of Tidewater stock opened at $92.97 on Tuesday. The firm has a market capitalization of $4.63 billion, a PE ratio of 18.82 and a beta of 0.53. 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 12 month low of $46.65 and a 12 month high of $97.50. The business’s 50-day moving average price is $76.96 and its 200-day moving average price is $78.25.

Tidewater (NYSE:TDW) last issued 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). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The firm had revenue of $342.29 million during the quarter, compared to analysts’ expectations of $329.97 million. During the same period in the prior year, the company earned $1.46 EPS. The firm’s quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts forecast that Tidewater Inc. will post 3.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Barclays lifted their target price on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Weiss Ratings cut shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Finally, Zacks Research downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $91.00.

Insider Buying and Selling at Tidewater

In other news, EVP Samuel R. Rubio sold 17,705 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total value of $1,621,069.80. Following the completion of the sale, the executive vice president owned 33,214 shares of the company’s stock, valued at approximately $3,041,073.84. This represents a 34.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.