De Lisle Partners LLP Grows Position in Tidewater Inc. (NYSE:TDW)

Key Points

• De Lisle Partners LLP increased its stake in Tidewater Inc. by 15.1%, owning 123,773 shares valued at approximately $5.2 million at the end of the first quarter.
• Insider transactions included a sale of 5,000 shares by EVP Daniel A. Hudson, and a purchase of 15,000 shares by Director Robert Robotti, indicating active management interest in the company's stock.
• Tidewater's stock currently holds an average rating of "Hold" from analysts, with a price target adjustment down to $70.00 by Raymond James Financial.

De Lisle Partners LLP raised its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 123,773 shares of the oil and gas company's stock after purchasing an additional 16,200 shares during the period. De Lisle Partners LLP owned 0.24% of Tidewater worth $5,234,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TDW. Vanguard Group Inc. raised its holdings in shares of Tidewater by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company's stock worth $300,155,000 after purchasing an additional 56,919 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Tidewater by 20.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company's stock valued at $126,180,000 after buying an additional 390,814 shares during the last quarter. Encompass Capital Advisors LLC boosted its holdings in Tidewater by 17.7% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company's stock worth $86,569,000 after purchasing an additional 238,170 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tidewater by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock worth $84,888,000 after purchasing an additional 286,097 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Tidewater by 13.2% in the 4th quarter. Ameriprise Financial Inc. now owns 867,875 shares of the oil and gas company's stock valued at $47,473,000 after acquiring an additional 101,159 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Stock Down 0.3%

Shares of TDW traded down $0.18 during mid-day trading on Tuesday, reaching $52.76. 683,236 shares of the stock traded hands, compared to its average volume of 743,106. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $100.18. The company has a quick ratio of 2.00, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 15.79 and a beta of 1.08. The stock has a fifty day simple moving average of $46.34 and a 200 day simple moving average of $45.14.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.24. Tidewater had a return on equity of 15.97% and a net margin of 12.98%. Tidewater's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 EPS. Sell-side analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Raymond James Financial reduced their price objective on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. BTIG Research downgraded shares of Tidewater from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Tidewater presently has a consensus rating of "Hold" and an average price target of $69.33.

Insider Buying and Selling at Tidewater

In other news, Director Robert Robotti acquired 15,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was purchased at an average price of $42.05 per share, for a total transaction of $630,750.00. Following the completion of the transaction, the director directly owned 2,234,957 shares in the company, valued at approximately $93,979,941.85. This trade represents a 0.68% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel A. Hudson sold 5,000 shares of Tidewater stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $50.02, for a total value of $250,100.00. Following the transaction, the executive vice president owned 85,986 shares of the company's stock, valued at $4,301,019.72. The trade was a 5.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders bought 25,560 shares of company stock valued at $1,074,858. 8.33% of the stock is owned by company insiders.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.