UBS Group AG Reduces Stock Position in Tidewater Inc. $TDW

UBS Group AG cut its holdings in Tidewater Inc. (NYSE:TDW) by 33.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 752,275 shares of the oil and gas company’s stock after selling 385,498 shares during the period. UBS Group AG owned about 1.52% of Tidewater worth $37,997,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust grew its position in Tidewater by 23.5% in the third quarter. Parkside Financial Bank & Trust now owns 1,073 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 204 shares in the last quarter. Lido Advisors LLC raised its position in Tidewater by 4.0% during the third quarter. Lido Advisors LLC now owns 5,360 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 208 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Tidewater by 6.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,633 shares of the oil and gas company’s stock valued at $247,000 after purchasing an additional 292 shares during the last quarter. Blume Capital Management Inc. boosted its holdings in shares of Tidewater by 128.3% in the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in shares of Tidewater by 1.3% in the 3rd quarter. New York State Teachers Retirement System now owns 24,100 shares of the oil and gas company’s stock worth $1,285,000 after purchasing an additional 300 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tidewater

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 completion of the sale, the executive vice president directly owned 60,066 shares of the company’s stock, valued at $4,808,283.30. The trade was a 27.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel A. Hudson sold 5,195 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.56, for a total transaction of $418,509.20. Following the completion of the transaction, the executive vice president owned 45,971 shares in the company, valued at $3,703,423.76. This represents a 10.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 52,656 shares of company stock valued at $4,079,112. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TDW. Zacks Research upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Raymond James Financial set a $117.00 price objective on shares of Tidewater in a research report on Tuesday, March 3rd. Dawson James reissued an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Finally, Barclays upgraded shares of Tidewater to a “positive” rating and set a $86.00 target price for the company in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.33.

Tidewater Trading Down 4.5%

Shares of NYSE TDW opened at $78.05 on Friday. Tidewater Inc. has a fifty-two week low of $38.24 and a fifty-two week high of $93.13. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.78 and a current ratio of 3.33. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 13.07 and a beta of 0.57. The business’s 50 day moving average price is $82.08 and its 200-day moving average price is $66.03.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). The business had revenue of $326.22 million for the quarter, compared to analysts’ expectations of $322.83 million. Tidewater had a net margin of 22.16% and a return on equity of 8.79%. Tidewater’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 EPS. On average, sell-side analysts expect that Tidewater Inc. will post 4.04 earnings per share for the current year.

Tidewater Profile

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.