Alyeska Investment Group L.P. Raises Position in Tidewater Inc. $TDW

Key Points

• Alyeska Investment Group increased its Tidewater stake by 17% in the second quarter, holding 207,468 shares worth approximately $13.8 million. Institutional investors collectively own 95.13% of TDW.
• Analyst sentiment remains mixed, with Tidewater carrying a consensus “Hold” rating and a $91.00 target price; Barclays recently raised its target to $91 from $86.
• Tidewater reported quarterly revenue of $342.29 million, exceeding estimates, but earnings per share of $0.43 missed the $0.46 consensus. Shares opened at $93.23, near their 52-week high of $97.50.

Alyeska Investment Group L.P. grew its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 17.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,468 shares of the oil and gas company's stock after acquiring an additional 30,188 shares during the period. Alyeska Investment Group L.P. owned about 0.42% of Tidewater worth $13,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Tidewater in the second quarter worth about $503,200,000. Robotti Robert bought a new position in shares of Tidewater during the 2nd quarter valued at approximately $193,652,000. State Street Corp increased 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 worth $96,064,000 after acquiring an additional 85,697 shares in the last quarter. Dimensional Fund Advisors LP increased 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 worth $153,623,000 after acquiring an additional 86,084 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Tidewater by 11.1% during the 2nd quarter. Wellington Management Group LLP now owns 1,475,804 shares of the oil and gas company's stock worth $98,333,000 after acquiring an additional 147,189 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Tidewater Trading Up 0.7%

Shares of TDW opened at $93.23 on Tuesday. The firm has a market cap of $4.64 billion, a P/E ratio of 18.87 and a beta of 0.53. 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 Inc. has a 1 year low of $46.65 and a 1 year high of $97.50. The company has a 50 day simple moving average of $79.48 and a two-hundred day simple moving average of $79.14.

Tidewater (NYSE:TDW - Get Free Report) last released 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). The company had revenue of $342.29 million during the quarter, compared to analysts' expectations of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.Tidewater's quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. On average, equities analysts expect that Tidewater Inc. will post 3.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tidewater news, EVP Samuel R. Rubio sold 17,705 shares of the stock in a transaction dated Wednesday, August 12th. The shares were 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. This represents a 34.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by 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.

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