Hosking Partners LLP Raises Holdings in Tidewater Inc. $TDW

Key Points

• Hosking Partners LLP increased its Tidewater stake by 11.3% in the fourth quarter, buying 65,875 more shares and bringing its holdings to 650,785 shares valued at about $32.9 million.
• Tidewater’s latest earnings missed expectations, with quarterly EPS of $0.12 versus the $0.75 consensus, even though revenue came in slightly ahead of estimates at $326.22 million.
• Insiders have been selling shares, including two EVP transactions in recent months, while analysts currently rate the stock a consensus Hold with an average price target of $89.33.

Hosking Partners LLP boosted its position in Tidewater Inc. (NYSE:TDW - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 650,785 shares of the oil and gas company's stock after purchasing an additional 65,875 shares during the quarter. Tidewater comprises approximately 1.1% of Hosking Partners LLP's investment portfolio, making the stock its 29th largest position. Hosking Partners LLP owned about 1.31% of Tidewater worth $32,871,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its stake in Tidewater by 23.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,073 shares of the oil and gas company's stock valued at $57,000 after purchasing an additional 204 shares during the last quarter. Lido Advisors LLC raised its stake in Tidewater by 4.0% in the 3rd quarter. Lido Advisors LLC now owns 5,360 shares of the oil and gas company's stock valued at $286,000 after purchasing an additional 208 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Tidewater by 6.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,633 shares of the oil and gas company's stock valued at $247,000 after buying an additional 292 shares in the last quarter. Blume Capital Management Inc. increased its stake in shares of Tidewater by 128.3% in the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Finally, Glenorchy Capital Ltd increased its stake in shares of Tidewater by 1.1% in the 4th quarter. Glenorchy Capital Ltd now owns 26,238 shares of the oil and gas company's stock worth $1,325,000 after acquiring an additional 295 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Tidewater Stock Down 0.1%

TDW stock opened at $81.07 on Monday. The company's 50 day moving average price is $82.08 and its 200 day moving average price is $66.03. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33. Tidewater Inc. has a fifty-two week low of $38.24 and a fifty-two week high of $93.13. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 13.58 and a beta of 0.57.

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

Analyst Ratings Changes

A number of analysts have issued reports on TDW shares. Barclays raised their target price on Tidewater from $80.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Thursday. Zacks Research raised Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 20th. Dawson James reaffirmed an "outperform" rating on shares of Tidewater in a research note on Tuesday, March 3rd. Finally, Raymond James Financial set a $117.00 target price on Tidewater in a research note on Tuesday, March 3rd. One investment 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.com, Tidewater currently has an average rating of "Hold" and an average price target of $89.33.

Insider Activity at Tidewater

In other news, EVP Daniel A. Hudson sold 15,000 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $77.50, for a total value of $1,162,500.00. Following the transaction, the executive vice president owned 50,986 shares of the company's stock, valued at approximately $3,951,415. The trade was a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samuel R. Rubio sold 22,461 shares of the company's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total value of $1,798,003.05. Following the transaction, the executive vice president directly owned 60,066 shares in the company, valued at $4,808,283.30. This represents a 27.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 52,656 shares of company stock worth $4,079,112. 6.60% of the stock is currently owned by corporate insiders.

About Tidewater

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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