Glenorchy Capital Ltd Sells 137,294 Shares of Tidewater Inc. (NYSE:TDW)

Glenorchy Capital Ltd cut its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 84.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,419 shares of the oil and gas company's stock after selling 137,294 shares during the quarter. Glenorchy Capital Ltd's holdings in Tidewater were worth $1,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new position in shares of Tidewater in the 4th quarter worth about $33,000. AlphaQuest LLC boosted its stake in Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock worth $44,000 after buying an additional 511 shares in the last quarter. Headlands Technologies LLC bought a new position in Tidewater during the fourth quarter valued at approximately $53,000. EverSource Wealth Advisors LLC raised its stake in shares of Tidewater by 45.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock worth $58,000 after acquiring an additional 333 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Tidewater by 2,018.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company's stock worth $70,000 after acquiring an additional 1,211 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Wall Street Analyst Weigh In

TDW has been the topic of a number of analyst reports. Pickering Energy Partners cut shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Raymond James reduced their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Evercore ISI lowered Tidewater from an "outperform" rating to an "in-line" rating and lowered their target price for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $69.33.

Tidewater Trading Up 1.1%

TDW stock traded up $0.48 on Tuesday, reaching $43.29. The company's stock had a trading volume of 57,767 shares, compared to its average volume of 1,086,677. The business has a fifty day simple moving average of $38.59 and a two-hundred day simple moving average of $47.97. The firm has a market cap of $2.14 billion, a PE ratio of 12.71 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $110.06.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 EPS 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%. During the same period last year, the firm earned $0.89 earnings per share. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

Insider Activity

In other news, Director Robert Robotti acquired 1,770 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $40.95 per share, for a total transaction of $72,481.50. Following the completion of the acquisition, the director now owns 2,183,670 shares in the company, valued at $89,421,286.50. This trade represents a 0.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.33% of the stock is currently owned by company insiders.

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.