Wittenberg Investment Management Inc. Sells 13,500 Shares of Tidewater Inc. $TDW

Wittenberg Investment Management Inc. trimmed its holdings in shares of Tidewater Inc. (NYSE:TDW) by 16.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 66,212 shares of the oil and gas company’s stock after selling 13,500 shares during the quarter. Tidewater accounts for about 1.3% of Wittenberg Investment Management Inc.’s holdings, making the stock its 13th biggest position. Wittenberg Investment Management Inc.’s holdings in Tidewater were worth $3,344,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Gordian Capital Singapore Pte Ltd bought a new position in Tidewater during the third quarter worth about $1,920,000. Fulcrum Asset Management LLP increased its position in Tidewater by 226.1% during the third quarter. Fulcrum Asset Management LLP now owns 33,428 shares of the oil and gas company’s stock worth $1,783,000 after acquiring an additional 23,177 shares during the period. Public Sector Pension Investment Board increased its position in Tidewater by 15.7% during the third quarter. Public Sector Pension Investment Board now owns 179,489 shares of the oil and gas company’s stock worth $9,572,000 after acquiring an additional 24,352 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Tidewater during the fourth quarter worth about $1,036,000. Finally, JPMorgan Chase & Co. increased its position in Tidewater by 286.0% during the third quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock worth $9,986,000 after acquiring an additional 138,739 shares during the period. 95.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Tidewater in a report on Monday, June 1st. Barclays raised their target price on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Raymond James Financial set a $117.00 target price on shares of Tidewater in a report on Tuesday, March 3rd. Finally, Dawson James reissued an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $89.33.

Tidewater Price Performance

TDW stock opened at $76.94 on Monday. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. Tidewater Inc. has a 12 month low of $44.11 and a 12 month high of $93.13. The firm has a market cap of $3.83 billion, a P/E ratio of 12.89 and a beta of 0.50. The company’s 50-day moving average price is $81.66 and its two-hundred day moving average price is $70.69.

Tidewater (NYSE:TDW) last released its earnings results on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.63). Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The firm had revenue of $326.22 million during the quarter, compared to the consensus estimate of $322.83 million. During the same period in the prior year, the business earned $0.83 earnings per share. Tidewater’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts anticipate 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.