Bessemer Group Inc. Purchases 40,588 Shares of Tidewater Inc. $TDW

Key Points

• Bessemer Group Inc. boosted its Tidewater stake by 71% in the first quarter, buying 40,588 additional shares and bringing its total holding to 97,719 shares worth about $8.17 million.
• Institutional ownership in Tidewater remains very high at 95.13%, and several other hedge funds also recently increased or established positions in the company.
• Wall Street sentiment is mixed: Tidewater’s average analyst rating is “Hold” with a consensus target price of $89.33, while the stock opened at $75.81 and the company recently reported earnings well below expectations.

Bessemer Group Inc. lifted its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 71.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 97,719 shares of the oil and gas company's stock after buying an additional 40,588 shares during the quarter. Bessemer Group Inc. owned approximately 0.20% of Tidewater worth $8,165,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Tidewater in the fourth quarter worth about $1,036,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Tidewater during the 4th quarter valued at approximately $1,953,000. Tejara Capital Ltd raised its stake in Tidewater by 127.6% during the 4th quarter. Tejara Capital Ltd now owns 44,600 shares of the oil and gas company's stock valued at $2,253,000 after purchasing an additional 25,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in Tidewater by 286.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company's stock worth $9,986,000 after purchasing an additional 138,739 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in Tidewater in the 4th quarter worth approximately $21,922,000. Institutional investors own 95.13% of the company's stock.

Wall Street Analyst Weigh In

TDW has been the subject of a number of research analyst reports. Zacks Research lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 19th. Pickering Energy Partners raised shares of Tidewater from an "underperform" rating to a "neutral" rating in a report on Thursday, June 11th. Weiss Ratings upgraded shares of Tidewater from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. Barclays raised their target price on shares of Tidewater from $80.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Finally, Fearnley Fonds upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Friday, June 5th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $89.33.

Tidewater Stock Performance

NYSE:TDW opened at $75.81 on Monday. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 12.70 and a beta of 0.53. Tidewater Inc. has a 1 year low of $46.65 and a 1 year high of $93.13. The stock's 50 day simple moving average is $73.69 and its two-hundred day simple moving average is $73.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.33 and a quick ratio of 3.22.

Tidewater (NYSE:TDW - Get Free Report) last posted its earnings results on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.63). Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The firm had revenue of $326.22 million for the quarter, compared to the consensus estimate of $322.83 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. The firm's revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that Tidewater Inc. will post 3.52 earnings per share for the current fiscal year.

About Tidewater

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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