Empowered Funds LLC Makes New $4.08 Million Investment in Tidewater Inc. $TDW

Key Points

• Empowered Funds LLC initiated a $4.08 million position in Tidewater during the second quarter, acquiring 61,172 shares and representing approximately 0.12% of the company. Institutional investors collectively own 95.13% of Tidewater.
• Tidewater reported quarterly revenue of $342.29 million, exceeding analyst expectations, but adjusted earnings of $0.43 per share fell short of the $0.46 consensus estimate. Revenue increased slightly year over year, while analysts expect full-year EPS of $3.08.
• The stock opened at $93.23, near its 12-month high of $97.50, while analyst sentiment remained mixed: Tidewater has an average “Hold” rating and a consensus price target of $91.00. An executive vice president also sold 17,705 shares for approximately $1.62 million.

Empowered Funds LLC bought a new stake in Tidewater Inc. (NYSE:TDW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 61,172 shares of the oil and gas company's stock, valued at approximately $4,076,000. Empowered Funds LLC owned 0.12% of Tidewater as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Inspire Investing LLC increased its position in shares of Tidewater by 1.2% during the 1st quarter. Inspire Investing LLC now owns 11,332 shares of the oil and gas company's stock worth $947,000 after purchasing an additional 131 shares during the last quarter. Baron Wealth Management LLC lifted its position in Tidewater by 4.5% in the second quarter. Baron Wealth Management LLC now owns 3,286 shares of the oil and gas company's stock valued at $219,000 after buying an additional 141 shares during the last quarter. Lido Advisors LLC lifted its position in Tidewater by 2.8% in the fourth quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company's stock valued at $290,000 after buying an additional 149 shares during the last quarter. Clearstead Advisors LLC boosted its stake in Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company's stock worth $44,000 after buying an additional 158 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Tidewater by 5.8% during the second quarter. GAMMA Investing LLC now owns 3,015 shares of the oil and gas company's stock worth $201,000 after buying an additional 164 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Tidewater Stock Performance

Shares of Tidewater stock opened at $93.23 on Tuesday. The stock has a market capitalization of $4.64 billion, a price-to-earnings 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. The business has a 50-day moving average of $79.48 and a 200 day moving average of $79.14. Tidewater Inc. has a 12 month low of $46.65 and a 12 month 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.03). The business had revenue of $342.29 million for 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%.The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company earned $1.46 earnings per share. As a group, sell-side analysts forecast that Tidewater Inc. will post 3.08 earnings per share for the current year.

Insider Buying and Selling at Tidewater

In related news, EVP Samuel R. Rubio sold 17,705 shares of Tidewater stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 33,214 shares in the company, valued at approximately $3,041,073.84. The trade was a 34.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TDW. Zacks Research cut shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 19th. Fearnley Fonds upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Friday, June 5th. Weiss Ratings cut shares of Tidewater from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 28th. Pickering Energy Partners upgraded shares of Tidewater from an "underperform" rating to a "neutral" rating in a report on Thursday, June 11th. Finally, Barclays boosted their target price 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 research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Tidewater currently has an average 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.

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