Tidewater Inc. (NYSE:TDW) Shares Purchased by De Lisle Partners LLP

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 position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.24% of Tidewater worth $5,234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Tidewater during the fourth quarter valued at about $4,347,000. GAMMA Investing LLC increased its stake in Tidewater by 477.5% in the 1st quarter. GAMMA Investing LLC now owns 2,668 shares of the oil and gas company's stock valued at $113,000 after buying an additional 2,206 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Tidewater by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 283,950 shares of the oil and gas company's stock valued at $12,003,000 after acquiring an additional 7,837 shares during the period. Farther Finance Advisors LLC grew its position in shares of Tidewater by 94,555.6% during the 1st quarter. Farther Finance Advisors LLC now owns 8,519 shares of the oil and gas company's stock valued at $366,000 after acquiring an additional 8,510 shares during the period. Finally, Spire Wealth Management grew its position in shares of Tidewater by 14.3% during the 1st quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company's stock valued at $168,000 after acquiring an additional 498 shares during the period. Institutional investors own 95.13% of the company's stock.

Insider Buying and Selling

In other Tidewater news, EVP Daniel A. Hudson sold 5,000 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $50.02, for a total transaction of $250,100.00. Following the sale, the executive vice president directly owned 85,986 shares in the company, valued at approximately $4,301,019.72. The trade was a 5.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Robotti acquired 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was acquired 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 represents a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 25,560 shares of company stock worth $1,074,858. 8.33% of the stock is owned by corporate insiders.

Tidewater Stock Down 5.0%

Shares of Tidewater stock traded down $2.50 on Friday, reaching $47.51. The stock had a trading volume of 930,594 shares, compared to its average volume of 1,060,773. The stock has a market capitalization of $2.35 billion, a P/E ratio of 14.22 and a beta of 1.08. The company has a quick ratio of 2.00, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $91.76. The company has a 50 day moving average price of $47.02 and a 200 day moving average price of $45.20.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data 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 net margin of 12.98% and a return on equity of 15.97%. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Tidewater's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

Analyst Ratings Changes

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

Tidewater Profile

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.