23,739 Shares in Tidewater Inc. $TDW Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in shares of Tidewater Inc. (NYSE:TDW) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 23,739 shares of the oil and gas company’s stock, valued at approximately $1,582,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. acquired a new stake in Tidewater in the 1st quarter worth $26,000. Clearstead Advisors LLC raised its position in shares of Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 158 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Tidewater by 701.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 870 shares during the period. Headlands Technologies LLC bought a new stake in shares of Tidewater in the second quarter valued at about $47,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Tidewater during the fourth quarter worth about $53,000. 95.13% of the stock is owned by institutional investors.

Tidewater Stock Performance

Tidewater stock opened at $94.61 on Friday. The firm has a market capitalization of $4.71 billion, a P/E ratio of 19.15 and a beta of 0.56. The stock has a fifty day moving average price of $81.38 and a two-hundred day moving average price of $79.73. Tidewater Inc. has a 52-week low of $46.65 and a 52-week high of $101.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47.

Tidewater (NYSE:TDW) last issued its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The firm had revenue of $342.29 million during the quarter, compared to analyst estimates of $329.97 million. During the same quarter in the prior year, the firm posted $1.46 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts anticipate that Tidewater Inc. will post 3.08 EPS for the current fiscal year.

Insider Activity at Tidewater

In other Tidewater news, EVP Samuel Rubio sold 17,705 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 33,214 shares in the company, valued at $3,041,073.84. The trade was a 34.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth Traub sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $99.00, for a total transaction of $990,000.00. Following the sale, the director directly owned 63,521 shares in the company, valued at $6,288,579. This represents a 13.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 42,705 shares of company stock valued at $4,097,270 in the last ninety days. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TDW. BTIG Research raised Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday. Weiss Ratings lowered Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Finally, Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.25.

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.