Deutsche Bank AG Acquires Shares of 48,958 Tidewater Inc. $TDW

Key Points

• Deutsche Bank acquired 48,958 Tidewater shares worth approximately $3.26 million, while institutional investors collectively own 95.13% of the company.
• Tidewater reported quarterly revenue of $342.29 million, exceeding estimates, but earnings per share of $0.43 fell short of the $0.46 consensus forecast. The stock opened at $88.63, down 4.0%.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $91; meanwhile, executive Samuel R. Rubio sold 17,705 shares for roughly $1.62 million.

Deutsche Bank AG bought a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 48,958 shares of the oil and gas company's stock, valued at approximately $3,262,000. Deutsche Bank AG owned about 0.10% of Tidewater as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. State Street Corp boosted its position in shares of 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 purchasing an additional 85,697 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Tidewater by 4.9% in the first 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 during the last quarter. Cerity Partners LLC lifted its stake in Tidewater by 104.3% in the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company's stock valued at $57,730,000 after buying an additional 583,607 shares during the period. Hosking Partners LLP lifted its stake in Tidewater by 11.3% in the fourth quarter. Hosking Partners LLP now owns 650,785 shares of the oil and gas company's stock valued at $32,871,000 after buying an additional 65,875 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Tidewater by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,282 shares of the oil and gas company's stock worth $28,148,000 after buying an additional 12,874 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Tidewater Trading Down 4.0%

NYSE TDW opened at $88.63 on Thursday. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 17.94 and a beta of 0.53. The stock's 50 day moving average price is $77.81 and its two-hundred day moving average price is $78.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. Tidewater Inc. has a 52 week low of $46.65 and a 52 week high of $97.50.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share 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 business had revenue of $342.29 million for the quarter, compared to the consensus estimate of $329.97 million. During the same period in the prior year, the business earned $1.46 earnings per share. Tidewater's revenue was up .3% compared to the same quarter last year. As a group, analysts anticipate that Tidewater Inc. will post 3.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Tidewater news, EVP Samuel R. Rubio sold 17,705 shares of Tidewater stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total value of $1,621,069.80. Following the sale, the executive vice president directly owned 33,214 shares in the company, valued at approximately $3,041,073.84. The trade was a 34.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.90% of the company's stock.

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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