Punch & Associates Investment Management Inc. Acquires Shares of 342,356 Tidewater Inc. $TDW

Punch & Associates Investment Management Inc. acquired a new position in shares of Tidewater Inc. (NYSE:TDW) in the second quarter, HoldingsChannel.com reports. The fund acquired 342,356 shares of the oil and gas company’s stock, valued at approximately $22,811,000. Tidewater makes up about 1.1% of Punch & Associates Investment Management Inc.’s holdings, making the stock its 27th largest position.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Tidewater during the second quarter worth about $503,200,000. Robotti Robert acquired a new stake in Tidewater in the second quarter valued at about $193,652,000. State Street Corp boosted its holdings in Tidewater by 4.7% in the 4th quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock valued at $96,064,000 after purchasing an additional 85,697 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tidewater by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,838,769 shares of the oil and gas company’s stock valued at $153,623,000 after purchasing an additional 86,084 shares in the last quarter. Finally, Cerity Partners LLC increased its position in Tidewater by 104.3% during the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after purchasing an additional 583,607 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

TDW opened at $88.63 on Thursday. Tidewater Inc. has a 1-year low of $46.65 and a 1-year high of $97.50. The stock has a market cap of $4.41 billion, a P/E ratio of 17.94 and a beta of 0.53. The stock’s 50 day simple moving average is $77.81 and its 200 day simple moving average is $78.60. 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 quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). The firm had revenue of $342.29 million for the quarter, compared to analyst estimates of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 earnings per share. As a group, equities analysts anticipate that Tidewater Inc. will post 3.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TDW shares. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Weiss Ratings lowered shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Finally, Barclays increased their price target on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Tidewater has a consensus rating of “Hold” and an average target price of $91.00.

Insider Activity

In other news, EVP Samuel R. Rubio sold 17,705 shares of Tidewater stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the transaction, the executive vice president owned 33,214 shares of the company’s stock, valued at $3,041,073.84. The trade was a 34.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.90% of the stock is owned by company insiders.

Tidewater Company 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.