Tidewater Inc. $TDW Shares Bought by Punch & Associates Investment Management Inc.

Punch & Associates Investment Management Inc. lifted its holdings in shares of Tidewater Inc. (NYSE:TDW) by 4.3% during the first quarter, Holdings Channel reports. The fund owned 347,913 shares of the oil and gas company’s stock after purchasing an additional 14,254 shares during the quarter. Tidewater accounts for 1.7% of Punch & Associates Investment Management Inc.’s investment portfolio, making the stock its 10th largest holding. Punch & Associates Investment Management Inc.’s holdings in Tidewater were worth $29,068,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Tidewater in the 4th quarter valued at approximately $1,036,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Tidewater during the 4th quarter valued at approximately $1,953,000. Tejara Capital Ltd grew its position in shares of Tidewater by 127.6% during the fourth quarter. Tejara Capital Ltd now owns 44,600 shares of the oil and gas company’s stock worth $2,253,000 after buying an additional 25,000 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Tidewater by 286.0% in the third quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock worth $9,986,000 after buying an additional 138,739 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Tidewater in the fourth quarter worth $21,922,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

Tidewater stock opened at $78.46 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.33 and a quick ratio of 3.22. Tidewater Inc. has a 12 month low of $46.65 and a 12 month high of $93.13. The company has a fifty day moving average price of $73.25 and a two-hundred day moving average price of $74.19. The company has a market cap of $3.90 billion, a PE ratio of 13.14 and a beta of 0.53.

Tidewater (NYSE:TDW) last issued its 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 business had revenue of $326.22 million for the quarter, compared to analyst estimates of $322.83 million. During the same period last year, the company posted $0.83 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Research analysts expect that Tidewater Inc. will post 3.52 earnings per share for the current year.

Analyst Ratings Changes

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

Tidewater Profile

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.