Bryce Point Capital LLC Has $753,000 Stock Position in Tidewater Inc. (NYSE:TDW)

Key Points

• Bryce Point Capital LLC reduced its holdings in Tidewater Inc. by 24.7% in the first quarter, now owning 16,804 shares worth approximately $753,000.
• Insider trading activity includes Director Robert Robotti purchasing 15,000 shares at an average price of $42.05, increasing his ownership by 0.68%.
• Tidewater reported a quarterly earnings per share of $0.83, exceeding expectations, with a market cap of $2.57 billion and a consensus target price of $69.33.

Bryce Point Capital LLC trimmed its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 24.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,804 shares of the oil and gas company's stock after selling 5,514 shares during the quarter. Bryce Point Capital LLC's holdings in Tidewater were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TDW. Norges Bank acquired a new stake in Tidewater during the fourth quarter valued at approximately $32,388,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tidewater by 20.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company's stock worth $126,180,000 after acquiring an additional 390,814 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tidewater by 22.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock worth $84,888,000 after acquiring an additional 286,097 shares in the last quarter. Encompass Capital Advisors LLC boosted its holdings in shares of Tidewater by 17.7% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company's stock worth $86,569,000 after acquiring an additional 238,170 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Tidewater in the 4th quarter worth approximately $12,574,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robert Robotti bought 15,000 shares of the stock in a transaction on 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 acquisition, the director owned 2,234,957 shares in the company, valued at approximately $93,979,941.85. This trade represents a 0.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Daniel A. Hudson sold 5,000 shares of the stock in a transaction dated Tuesday, July 8th. The stock was 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 approximately $4,301,019.72. This trade represents a 5.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 25,560 shares of company stock valued at $1,074,858. 8.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TDW has been the topic of several research reports. BTIG Research downgraded Tidewater from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Raymond James Financial reduced their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. 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 currently has an average rating of "Hold" and a consensus price target of $69.33.

Tidewater Trading Down 1.5%

Shares of TDW traded down $0.78 during trading hours on Thursday, reaching $50.16. The stock had a trading volume of 502,196 shares, compared to its average volume of 1,059,951. 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 52 week low of $31.17 and a 52 week high of $100.18. The firm has a 50-day moving average of $46.81 and a 200 day moving average of $45.24. The company has a market cap of $2.48 billion, a P/E ratio of 15.00 and a beta of 1.08.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, beating 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 period in the previous year, the company posted $0.89 earnings per share. The business's quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

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.