Aegis Financial Corp Buys Shares of 201,731 Tidewater Inc. (NYSE:TDW)

Aegis Financial Corp purchased a new position in Tidewater Inc. (NYSE:TDW - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 201,731 shares of the oil and gas company's stock, valued at approximately $8,527,000. Tidewater accounts for approximately 7.3% of Aegis Financial Corp's portfolio, making the stock its 5th largest position. Aegis Financial Corp owned approximately 0.40% of Tidewater at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TDW. XTX Topco Ltd lifted its stake in Tidewater by 223.7% in the 1st quarter. XTX Topco Ltd now owns 16,730 shares of the oil and gas company's stock worth $707,000 after purchasing an additional 11,562 shares in the last quarter. De Lisle Partners LLP raised its position in shares of Tidewater by 15.1% in the first quarter. De Lisle Partners LLP now owns 123,773 shares of the oil and gas company's stock worth $5,234,000 after buying an additional 16,200 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Tidewater in the first quarter worth $325,000. Pinnacle Associates Ltd. boosted its stake in Tidewater by 5.4% during the first quarter. Pinnacle Associates Ltd. now owns 53,176 shares of the oil and gas company's stock valued at $2,248,000 after buying an additional 2,735 shares during the period. Finally, Lane Generational LLC purchased a new position in Tidewater during the first quarter worth about $2,503,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Price Performance

Shares of Tidewater stock opened at $47.51 on Friday. The firm has a market capitalization of $2.35 billion, a PE ratio of 14.22 and a beta of 1.08. The company has a current ratio of 2.07, a quick ratio of 2.00 and a debt-to-equity ratio of 0.50. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $91.76. The business's 50-day moving average price is $47.18 and its 200-day moving average price is $45.15.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.59 by $0.24. Tidewater had a net margin of 12.98% and a return on equity of 15.97%. During the same quarter in the prior year, the firm earned $0.89 EPS. Tidewater's revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insider Transactions at Tidewater

In other Tidewater news, EVP Daniel A. Hudson sold 5,000 shares of Tidewater stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $50.02, for a total value of $250,100.00. Following the transaction, the executive vice president directly owned 85,986 shares of the company's stock, valued at $4,301,019.72. The trade was a 5.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Robotti acquired 15,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was bought at an average price of $42.05 per share, with a total value of $630,750.00. Following the transaction, the director directly owned 2,234,957 shares of the company's stock, valued at approximately $93,979,941.85. The trade was a 0.68% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 25,560 shares of company stock worth $1,074,858 over the last ninety days. Insiders own 8.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BTIG Research downgraded Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Raymond James Financial dropped their target price on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Tidewater presently has an average rating of "Hold" and an average target price of $69.33.

Tidewater Company Profile

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.

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