Fulcrum Asset Management LLP Acquires 23,177 Shares of Tidewater Inc. $TDW

Fulcrum Asset Management LLP increased its holdings in Tidewater Inc. (NYSE:TDW) by 226.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,428 shares of the oil and gas company’s stock after acquiring an additional 23,177 shares during the period. Tidewater comprises 1.2% of Fulcrum Asset Management LLP’s investment portfolio, making the stock its 17th biggest holding. Fulcrum Asset Management LLP owned 0.07% of Tidewater worth $1,783,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Federated Hermes Inc. bought a new stake in Tidewater during the 2nd quarter worth approximately $28,199,000. American Century Companies Inc. lifted its holdings in shares of Tidewater by 291.8% in the second quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company’s stock valued at $25,670,000 after purchasing an additional 414,454 shares in the last quarter. Boston Partners lifted its holdings in shares of Tidewater by 1,118.5% in the second quarter. Boston Partners now owns 283,676 shares of the oil and gas company’s stock valued at $14,089,000 after purchasing an additional 260,395 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Tidewater by 319.1% during the third quarter. Victory Capital Management Inc. now owns 303,015 shares of the oil and gas company’s stock valued at $16,160,000 after buying an additional 230,706 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Tidewater by 159.7% during the second quarter. Ameriprise Financial Inc. now owns 358,563 shares of the oil and gas company’s stock valued at $16,541,000 after buying an additional 220,473 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Insider Activity

In other Tidewater news, EVP Samuel R. Rubio sold 22,461 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.05, for a total value of $1,798,003.05. Following the transaction, the executive vice president directly owned 60,066 shares in the company, valued at $4,808,283.30. The trade was a 27.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel A. Hudson sold 15,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the transaction, the executive vice president directly owned 50,986 shares of the company’s stock, valued at $3,951,415. This represents a 22.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 52,656 shares of company stock valued at $4,079,112. 6.60% of the stock is owned by company insiders.

Tidewater Stock Performance

Shares of TDW opened at $76.21 on Wednesday. The stock has a 50 day moving average of $68.62 and a 200 day moving average of $59.05. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 11.41 and a beta of 0.57. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $88.99. The company has a current ratio of 2.90, a quick ratio of 2.78 and a debt-to-equity ratio of 0.48.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $3.64. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The firm had revenue of $336.80 million during the quarter, compared to the consensus estimate of $329.39 million. During the same quarter in the prior year, the company earned $0.70 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Raymond James Financial set a $117.00 price target on Tidewater in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Dawson James reiterated an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Finally, Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $91.00.

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.