SIR Capital Management L.P. Invests $4.12 Million in Tidewater Inc. $TDW

Key Points

• SIR Capital Management purchased 61,850 Tidewater shares worth approximately $4.12 million, acquiring a 0.12% stake. Institutional investors collectively own 95.13% of the company.
• Tidewater reported quarterly revenue of $342.29 million, exceeding estimates, but earnings per share of $0.43 fell short of the $0.46 consensus forecast. Revenue rose slightly year over year, while earnings declined from $1.46 per share in the prior-year quarter.
• TDW shares opened at $92.97, near their 12-month high of $97.50. Analysts maintain an average “Hold” rating with a $91 price target, while EVP Samuel R. Rubio sold $1.62 million worth of shares.

SIR Capital Management L.P. purchased a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 61,850 shares of the oil and gas company's stock, valued at approximately $4,121,000. SIR Capital Management L.P. owned 0.12% of Tidewater as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Blue Trust Inc. bought a new stake in Tidewater in the first quarter worth about $26,000. Clearstead Advisors LLC grew its position in shares of Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company's stock valued at $44,000 after acquiring an additional 158 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of 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 bought a new stake in shares of Tidewater in the 2nd quarter worth approximately $47,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Tidewater in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Insider Activity at Tidewater

In other news, EVP Samuel R. Rubio sold 17,705 shares of Tidewater stock in a transaction on Wednesday, August 12th. The stock was 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 directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is owned by insiders.

Tidewater Stock Performance

Shares of TDW stock opened at $92.97 on Tuesday. The firm's 50 day moving average is $76.96 and its 200 day moving average is $78.25. The stock has a market capitalization of $4.63 billion, a P/E ratio of 18.82 and a beta of 0.53. Tidewater Inc. has a 12 month low of $46.65 and a 12 month high of $97.50. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.03). Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The business had revenue of $342.29 million during the quarter, compared to analysts' expectations of $329.97 million. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The firm's quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts anticipate that Tidewater Inc. will post 3.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Fearnley Fonds raised Tidewater from a "hold" rating to a "strong-buy" rating in a report on Friday, June 5th. Zacks Research lowered Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 19th. Pickering Energy Partners raised Tidewater from an "underperform" rating to a "neutral" rating in a research report on Thursday, June 11th. Weiss Ratings cut Tidewater from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 28th. Finally, Barclays increased their price target on Tidewater from $86.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. One equities 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. According to data from MarketBeat.com, Tidewater presently has an average rating of "Hold" and an average price target of $91.00.

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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