Valueworks LLC reduced its position in Tidewater Inc. (NYSE:TDW - Free Report) by 3.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 245,891 shares of the oil and gas company's stock after selling 9,985 shares during the period. Tidewater accounts for approximately 4.5% of Valueworks LLC's portfolio, making the stock its 8th largest holding. Valueworks LLC owned approximately 0.47% of Tidewater worth $13,453,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TDW. Barclays PLC raised its stake in Tidewater by 354.2% in the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock valued at $5,661,000 after acquiring an additional 61,487 shares during the period. Inspire Investing LLC raised its stake in Tidewater by 27.6% in the 4th quarter. Inspire Investing LLC now owns 7,971 shares of the oil and gas company's stock valued at $436,000 after acquiring an additional 1,726 shares during the period. Drive Wealth Management LLC bought a new stake in shares of Tidewater during the fourth quarter valued at about $233,000. Pacer Advisors Inc. increased its position in shares of Tidewater by 42,719.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company's stock valued at $76,277,000 after buying an additional 1,390,951 shares during the period. Finally, Diversified Investment Strategies LLC bought a new stake in shares of Tidewater during the fourth quarter valued at about $547,000. 95.13% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, Raymond James decreased their price target on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $69.33.
View Our Latest Research Report on TDW
Tidewater Trading Down 3.0%
Shares of TDW opened at $40.58 on Tuesday. The business's 50-day moving average price is $38.67 and its 200-day moving average price is $47.33. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $110.06. The stock has a market cap of $2.01 billion, a PE ratio of 11.94 and a beta of 1.00. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.
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 the consensus estimate of $0.59 by $0.24. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS. On average, equities analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Robert Robotti acquired 25,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the transaction, the director now owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. This trade represents a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.33% of the stock is owned by company insiders.
About Tidewater
(
Free Report)
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.
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