Valueworks LLC Cuts Stake in Tidewater Inc. (NYSE:TDW)

Valueworks LLC decreased its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,891 shares of the oil and gas company's stock after selling 9,985 shares during the period. Tidewater comprises about 4.5% of Valueworks LLC's investment portfolio, making the stock its 8th biggest holding. Valueworks LLC owned 0.47% of Tidewater worth $13,453,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Tidewater in the 4th quarter worth $4,347,000. Hodges Capital Management Inc. boosted its stake in shares of Tidewater by 103.0% in the 4th quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company's stock worth $5,288,000 after buying an additional 49,050 shares during the last quarter. Barclays PLC boosted its stake in shares of Tidewater by 354.2% in the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock worth $5,661,000 after buying an additional 61,487 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Tidewater by 42,719.6% in the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company's stock worth $76,277,000 after buying an additional 1,390,951 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Tidewater by 4.1% in the 4th quarter. Principal Financial Group Inc. now owns 276,113 shares of the oil and gas company's stock worth $15,106,000 after buying an additional 10,795 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Tidewater Stock Performance

NYSE TDW traded up $0.03 on Friday, hitting $39.44. 549,682 shares of the company traded hands, compared to its average volume of 1,092,965. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 11.60 and a beta of 1.00. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The business's 50 day moving average price is $38.60 and its 200-day moving average price is $46.82. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $108.44.

Tidewater (NYSE:TDW - Get Free Report) last issued its earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.24. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. During the same period in the previous year, the business earned $0.89 EPS. The firm's revenue was up 3.8% on a year-over-year basis. Equities analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current year.

Insider Transactions at Tidewater

In other news, Director Robert Robotti bought 1,770 shares of Tidewater stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $40.95 per share, with a total value of $72,481.50. Following the completion of the acquisition, the director now owns 2,183,670 shares of the company's stock, valued at $89,421,286.50. This trade represents a 0.08% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.33% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Raymond James dropped their price target on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $69.33.

Tidewater Company 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.