High Ground Investment Management LLP Invests $11.74 Million in Tidewater Inc. (NYSE:TDW)

High Ground Investment Management LLP bought a new stake in Tidewater Inc. (NYSE:TDW) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 211,682 shares of the oil and gas company’s stock, valued at approximately $11,736,000. Tidewater accounts for 9.3% of High Ground Investment Management LLP’s investment portfolio, making the stock its 4th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in Tidewater in the 1st quarter worth about $2,413,000. Acadian Asset Management LLC purchased a new position in shares of Tidewater during the 1st quarter valued at approximately $393,000. MetLife Investment Management LLC grew its stake in Tidewater by 24.8% in the 1st quarter. MetLife Investment Management LLC now owns 21,360 shares of the oil and gas company’s stock valued at $464,000 after acquiring an additional 4,241 shares during the period. Dimensional Fund Advisors LP increased its holdings in Tidewater by 12.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,075,799 shares of the oil and gas company’s stock worth $23,388,000 after acquiring an additional 121,346 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Tidewater in the 1st quarter worth $505,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Tidewater Trading Down 0.4 %

Shares of Tidewater stock opened at $67.35 on Tuesday. Tidewater Inc. has a 1-year low of $20.02 and a 1-year high of $73.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.99 and a quick ratio of 1.88. The stock has a market cap of $3.55 billion, a P/E ratio of 71.65 and a beta of 1.41. The stock’s 50 day simple moving average is $63.03 and its 200-day simple moving average is $52.01.

Tidewater (NYSE:TDW) last issued its earnings results on Monday, August 7th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.28). Tidewater had a net margin of 6.27% and a return on equity of 7.21%. The company had revenue of $214.96 million during the quarter, compared to analysts’ expectations of $220.45 million. Analysts predict that Tidewater Inc. will post 3.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. TheStreet raised shares of Tidewater from a “c+” rating to a “b-” rating in a research note on Friday, June 30th. StockNews.com started coverage on Tidewater in a research note on Thursday, August 17th. They set a “hold” rating for the company. Raymond James initiated coverage on Tidewater in a report on Thursday, July 13th. They set a “strong-buy” rating and a $85.00 target price for the company. BTIG Research began coverage on Tidewater in a research note on Wednesday, June 21st. They issued a “buy” rating and a $75.00 price target on the stock. Finally, Evercore ISI assumed coverage on Tidewater in a research note on Friday, July 7th. They issued an “outperform” rating and a $90.00 price objective for the company. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tidewater currently has a consensus rating of “Buy” and a consensus price target of $83.33.

Insider Activity at Tidewater

In other news, Director Robert Robotti bought 1,135 shares of Tidewater stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $57.06 per share, with a total value of $64,763.10. Following the completion of the purchase, the director now directly owns 3,026,792 shares of the company’s stock, valued at $172,708,751.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tidewater news, Director Robert Robotti bought 1,135 shares of the business’s stock in a transaction on Monday, July 24th. The stock was bought at an average price of $57.06 per share, with a total value of $64,763.10. Following the completion of the purchase, the director now directly owns 3,026,792 shares in the company, valued at $172,708,751.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Samuel R. Rubio sold 21,788 shares of Tidewater stock in a transaction on Monday, August 14th. The shares were sold at an average price of $62.37, for a total value of $1,358,917.56. Following the completion of the sale, the chief financial officer now owns 117,677 shares in the company, valued at approximately $7,339,514.49. The disclosure for this sale can be found here. Over the last quarter, insiders bought 168,519 shares of company stock valued at $10,531,632. 9.59% of the stock is owned by company insiders.

Tidewater Company Profile

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore crude oil and natural gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.