American Family Investments Inc. Purchases Shares of 119,817 Tidewater Inc. $TDW

Key Points

• American Family Investments purchased 119,817 Tidewater shares worth approximately $8.0 million, acquiring about 0.24% of the company. Institutional investors collectively own 95.13% of Tidewater’s stock.
• Tidewater reported quarterly revenue of $342.3 million, exceeding estimates, but earnings per share of $0.43 fell short of the $0.46 consensus. Analysts expect full-year EPS of approximately $3.08.
• Tidewater shares opened at $92.65, near their 52-week high of $97.50. Analyst sentiment remains mixed, with a consensus “Hold” rating and a $91 average price target; an executive also sold shares worth $1.62 million.

American Family Investments Inc. purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 119,817 shares of the oil and gas company's stock, valued at approximately $7,983,407. Tidewater makes up about 0.0% of American Family Investments Inc.'s portfolio, making the stock its 13th largest holding. American Family Investments Inc. owned approximately 0.24% of Tidewater at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Inspire Investing LLC raised its holdings in shares of Tidewater by 1.2% in the 1st quarter. Inspire Investing LLC now owns 11,332 shares of the oil and gas company's stock valued at $947,000 after acquiring an additional 131 shares in the last quarter. Baron Wealth Management LLC raised its holdings in shares of Tidewater by 4.5% in the 2nd quarter. Baron Wealth Management LLC now owns 3,286 shares of the oil and gas company's stock valued at $219,000 after acquiring an additional 141 shares in the last quarter. Lido Advisors LLC raised its holdings in shares of Tidewater by 2.8% in the 4th quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company's stock valued at $290,000 after acquiring an additional 149 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of Tidewater by 22.2% in the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company's stock valued at $44,000 after acquiring an additional 158 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Tidewater by 5.8% in the 2nd quarter. GAMMA Investing LLC now owns 3,015 shares of the oil and gas company's stock valued at $201,000 after acquiring an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

Tidewater Stock Performance

Shares of NYSE TDW opened at $92.65 on Friday. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 18.76 and a beta of 0.53. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47. Tidewater Inc. has a 1-year low of $46.65 and a 1-year high of $97.50. The stock's 50-day moving average is $78.94 and its 200 day moving average is $78.89.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings results 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). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The company had revenue of $342.29 million for the quarter, compared to the consensus estimate of $329.97 million. During the same quarter in the previous year, the business earned $1.46 earnings per share. Tidewater's revenue was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Tidewater Inc. will post 3.08 EPS for the current fiscal year.

Insider Transactions at Tidewater

In related news, EVP Samuel R. Rubio sold 17,705 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 33,214 shares in the company, valued at $3,041,073.84. This trade represents a 34.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on TDW. Weiss Ratings cut Tidewater from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, July 28th. Fearnley Fonds raised Tidewater from a "hold" rating to a "strong-buy" rating in a report on Friday, June 5th. Pickering Energy Partners raised Tidewater from an "underperform" rating to a "neutral" rating in a report on Thursday, June 11th. Barclays raised their price objective on Tidewater from $86.00 to $91.00 and gave the company an "equal weight" rating in a report on Thursday, August 13th. Finally, Zacks Research cut Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Tidewater currently has a consensus rating of "Hold" and a consensus price target of $91.00.

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.