Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $1.95 Million in Tidewater Inc. $TDW

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. opened a new position in Tidewater during the fourth quarter, buying 38,660 shares valued at about $1.95 million.
• Tidewater reported weaker-than-expected quarterly earnings, posting $0.12 EPS versus the $0.75 consensus estimate, even though revenue of $326.22 million slightly topped forecasts.
• Insiders have been selling shares, including EVP Daniel A. Hudson and EVP Samuel R. Rubio, while analysts currently rate the stock a consensus "Hold" with a target price of $89.33.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Tidewater Inc. (NYSE:TDW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 38,660 shares of the oil and gas company's stock, valued at approximately $1,953,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned about 0.08% of Tidewater as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TDW. Blume Capital Management Inc. grew its position in Tidewater by 128.3% during the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Hantz Financial Services Inc. grew its position in Tidewater by 401.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 413 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Tidewater by 701.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company's stock worth $46,000 after purchasing an additional 870 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Tidewater during the 2nd quarter worth approximately $47,000. Finally, Wexford Capital LP purchased a new stake in Tidewater during the 3rd quarter worth approximately $56,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Tidewater Stock Down 4.2%

TDW stock opened at $81.04 on Friday. The firm's fifty day simple moving average is $82.50 and its 200-day simple moving average is $68.36. The company has a market capitalization of $4.03 billion, a P/E ratio of 13.58 and a beta of 0.57. 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 Inc. has a 12 month low of $38.24 and a 12 month high of $93.13.

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

Insider Buying and Selling at Tidewater

In related news, EVP Daniel A. Hudson sold 15,000 shares of the business's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $77.50, for a total value of $1,162,500.00. Following the completion of the transaction, the executive vice president directly owned 50,986 shares in the company, valued at $3,951,415. The trade was a 22.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Samuel R. Rubio sold 22,461 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the completion of the transaction, the executive vice president owned 60,066 shares of the company's stock, valued at approximately $4,808,283.30. This represents a 27.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 42,656 shares of company stock valued at $3,379,012. Company insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TDW. Raymond James Financial set a $117.00 target price on shares of Tidewater in a research report on Tuesday, March 3rd. Dawson James reissued an "outperform" rating on shares of Tidewater in a research report on Tuesday, March 3rd. Zacks Research downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, Barclays boosted their target price on shares of Tidewater from $80.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $89.33.

Tidewater 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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