Tidewater Inc. $TDW is Punch & Associates Investment Management Inc.'s 10th Largest Position

Key Points

• Punch & Associates Investment Management increased its Tidewater stake by 4.3% in Q1, making the stock its 10th largest holding. The fund now owns 347,913 shares worth about $29.1 million.
• Analysts currently view Tidewater cautiously, with a consensus rating of “Hold” and an average price target of $89.33. Recent calls were mixed, including upgrades from Fearnley Fonds and Pickering Energy Partners and a downgrade from Zacks Research.
• Tidewater’s latest quarter showed EPS of $0.12, well below the expected $0.75, though revenue of $326.22 million slightly beat estimates. The stock opened at $78.46 and has traded between $46.65 and $93.13 over the past year.

Punch & Associates Investment Management Inc. lifted its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 347,913 shares of the oil and gas company's stock after buying an additional 14,254 shares during the period. Tidewater makes up about 1.7% of Punch & Associates Investment Management Inc.'s holdings, making the stock its 10th biggest holding. Punch & Associates Investment Management Inc. owned 0.70% of Tidewater worth $29,068,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TDW. Blue Trust Inc. purchased a new stake in Tidewater during the first quarter valued at about $26,000. Clearstead Advisors LLC raised its holdings in shares of Tidewater by 22.2% in the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company's stock worth $44,000 after purchasing an additional 158 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Tidewater by 701.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company's stock worth $46,000 after purchasing an additional 870 shares during the period. Headlands Technologies LLC acquired a new position in shares of Tidewater in the 2nd quarter valued at about $47,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Tidewater in the 4th quarter valued at about $53,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on TDW shares. Pickering Energy Partners raised shares of Tidewater from an "underperform" rating to a "neutral" rating in a research report on Thursday, June 11th. Barclays lifted their price target on shares of Tidewater from $80.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Weiss Ratings raised shares of Tidewater from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. Zacks Research downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 19th. Finally, Fearnley Fonds upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Tidewater presently has a consensus rating of "Hold" and a consensus price target of $89.33.

Tidewater Stock Performance

Shares of NYSE:TDW opened at $78.46 on Friday. The company has a market cap of $3.90 billion, a P/E ratio of 13.14 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33. Tidewater Inc. has a one year low of $46.65 and a one year high of $93.13. The business's 50-day simple moving average is $73.25 and its 200 day simple moving average is $74.19.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.63). Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The company had revenue of $326.22 million during the quarter, compared to analysts' expectations of $322.83 million. During the same quarter in the prior year, the company earned $0.83 EPS. The firm's revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that Tidewater Inc. will post 3.52 earnings per share for the current fiscal year.

About Tidewater

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company's fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.

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