Gordian Capital Singapore Pte Ltd Takes Position in Tidewater Inc. $TDW

Key Points

• Gordian Capital Singapore bought a new stake of 36,000 Tidewater shares in Q3 (~$1.92M), making the position about 2.6% of Gordian's holdings and roughly 0.07% of Tidewater outstanding stock.
• Tidewater beat estimates with quarterly EPS of $4.41 versus a $0.77 consensus and revenue of $336.8M (vs. $329.4M), while analysts maintain a consensus Hold rating with a $91 price target.
• Company insiders have been net sellers recently — executives sold 52,656 shares (~$4.08M) over the last 90 days, including large sales by EVPs Samuel R. Rubio and Daniel A. Hudson.

Gordian Capital Singapore Pte Ltd bought a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 36,000 shares of the oil and gas company's stock, valued at approximately $1,920,000. Tidewater makes up about 2.6% of Gordian Capital Singapore Pte Ltd's holdings, making the stock its 9th largest position. Gordian Capital Singapore Pte Ltd owned about 0.07% of Tidewater as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TDW. Hantz Financial Services Inc. grew its position 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. raised its position in shares of 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. Parkside Financial Bank & Trust lifted its stake in Tidewater by 4,245.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company's stock valued at $40,000 after buying an additional 849 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Tidewater by 701.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company's stock worth $46,000 after buying an additional 870 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Tidewater during the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Dawson James restated an "outperform" rating on shares of Tidewater in a research report on Tuesday, March 3rd. Zacks Research raised Tidewater from a "strong sell" rating to a "hold" rating in a research note on Monday, January 12th. Raymond James Financial set a $117.00 price objective on Tidewater in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tidewater in a report on Monday, December 29th. Finally, Evercore reduced their target price on shares of Tidewater from $67.00 to $65.00 and set an "in-line" rating for the company in a research report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $91.00.

Tidewater Price Performance

NYSE:TDW opened at $76.87 on Wednesday. Tidewater Inc. has a one year low of $31.17 and a one year high of $88.99. The stock has a market cap of $3.81 billion, a PE ratio of 11.51 and a beta of 0.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.78 and a current ratio of 2.90. The stock has a 50 day moving average price of $66.19 and a 200 day moving average price of $58.48.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $3.64. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The company had revenue of $336.80 million for the quarter, compared to analyst estimates of $329.39 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insider Activity

In other news, EVP Samuel R. Rubio sold 22,461 shares of Tidewater stock in a transaction that occurred 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 sale, the executive vice president owned 60,066 shares of the company's stock, valued at approximately $4,808,283.30. The trade was a 27.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel A. Hudson sold 5,195 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $80.56, for a total value of $418,509.20. Following the completion of the transaction, the executive vice president owned 45,971 shares in the company, valued at $3,703,423.76. This represents a 10.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 52,656 shares of company stock valued at $4,079,112. 6.60% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.