Fulcrum Asset Management LLP Reduces Position in Tidewater Inc. $TDW

Key Points

• Fulcrum Asset Management cut its stake in Tidewater by 95.3% in Q4, selling 57,056 shares and leaving 2,793 shares valued at about $141,000.
• Insiders have sold a total of 52,656 shares (~$4.08 million) in the past 90 days, including EVP Samuel R. Rubio (22,461 shares at $80.05) and EVP Daniel A. Hudson (15,000 shares at $77.50), leaving insiders with 6.6% ownership.
• Tidewater reported EPS of $0.12, missing analysts' $0.75 estimate while posting $326.2M in revenue, and analysts maintain a consensus "Moderate Buy" with an average price target of $89.33.

Fulcrum Asset Management LLP decreased its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 95.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,793 shares of the oil and gas company's stock after selling 57,056 shares during the quarter. Fulcrum Asset Management LLP's holdings in Tidewater were worth $141,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TDW. Hantz Financial Services Inc. grew its holdings in shares of Tidewater by 401.0% in the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 413 shares during the period. Blume Capital Management Inc. grew its holdings in shares of Tidewater by 128.3% in the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 295 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Tidewater by 701.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company's stock valued at $46,000 after purchasing an additional 870 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Tidewater in the second quarter valued at about $47,000. Finally, Wexford Capital LP purchased a new stake in shares of Tidewater in the third quarter valued at about $56,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Insider Transactions at Tidewater

In other Tidewater news, EVP Samuel R. Rubio sold 22,461 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.05, for a total value of $1,798,003.05. Following the transaction, the executive vice president owned 60,066 shares of the company's stock, valued at $4,808,283.30. This represents a 27.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Daniel A. Hudson sold 15,000 shares of the company's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $77.50, for a total transaction 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 SEC filing for this sale provides additional information. Insiders sold 52,656 shares of company stock worth $4,079,112 in the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Tidewater Trading Down 4.5%

NYSE TDW opened at $78.05 on Friday. The firm's 50-day moving average is $82.08 and its two-hundred day moving average is $66.03. Tidewater Inc. has a 12 month low of $38.24 and a 12 month high of $93.13. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.33 and a quick ratio of 2.78. The stock has a market capitalization of $3.88 billion, a P/E ratio of 13.07 and a beta of 0.57.

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 company had revenue of $326.22 million during the quarter, compared to analyst estimates of $322.83 million. During the same period in the previous year, the company earned $0.83 EPS. The company's quarterly revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Tidewater Inc. will post 4.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

TDW has been the subject of a number of analyst reports. Dawson James reissued an "outperform" rating on shares of Tidewater in a report on Tuesday, March 3rd. Raymond James Financial set a $117.00 price objective on shares of Tidewater in a report on Tuesday, March 3rd. Zacks Research raised shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Monday, April 20th. Finally, Barclays raised shares of Tidewater to a "positive" rating and set a $86.00 price objective for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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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