Royce & Associates LP Raises Holdings in Tidewater Inc. $TDW

Royce & Associates LP increased its stake in shares of Tidewater Inc. (NYSE:TDW) by 50.4% during the 4th quarter, Holdings Channel reports. The fund owned 22,674 shares of the oil and gas company’s stock after purchasing an additional 7,598 shares during the quarter. Royce & Associates LP’s holdings in Tidewater were worth $1,145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Blume Capital Management Inc. lifted its holdings in Tidewater by 128.3% in the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 295 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Tidewater by 401.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 413 shares during the period. Clearstead Advisors LLC grew its stake in shares of Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 158 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Tidewater by 701.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Tidewater during the 2nd quarter valued at approximately $47,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Price Performance

Tidewater stock opened at $73.42 on Monday. The stock has a market capitalization of $3.65 billion, a P/E ratio of 12.30 and a beta of 0.50. The company’s fifty day moving average price is $82.61 and its 200 day moving average price is $69.40. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33. Tidewater Inc. has a 1 year low of $39.56 and a 1 year high of $93.13.

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 the consensus estimate of $0.75 by ($0.63). Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The company had revenue of $326.22 million for the quarter, compared to analysts’ expectations of $322.83 million. During the same period in the previous year, the business earned $0.83 earnings per share. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities research analysts anticipate that Tidewater Inc. will post 3.52 earnings per share for the current fiscal year.

Insider Transactions at Tidewater

In related news, EVP Samuel R. Rubio sold 22,461 shares of the firm’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 of the company’s stock, valued at approximately $4,808,283.30. This trade represents a 27.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel A. Hudson sold 5,195 shares of Tidewater stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.56, for a total value of $418,509.20. Following the completion of the sale, the executive vice president owned 45,971 shares in the company, valued at approximately $3,703,423.76. The trade was a 10.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TDW. Dawson James reissued an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Zacks Research downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Raymond James Financial set a $117.00 target price on shares of Tidewater in a research note on Tuesday, March 3rd. Finally, Barclays raised their target price on Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $89.33.

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.