Old West Investment Management LLC Acquires Shares of 393,788 Tidewater Inc. $TDW

Old West Investment Management LLC purchased a new stake in Tidewater Inc. (NYSE:TDW) during the second quarter, HoldingsChannel.com reports. The firm purchased 393,788 shares of the oil and gas company’s stock, valued at approximately $26,238,000. Tidewater makes up approximately 2.8% of Old West Investment Management LLC’s investment portfolio, making the stock its 3rd biggest holding.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of Tidewater by 4.7% in the 4th quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock valued at $96,064,000 after purchasing an additional 85,697 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tidewater by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,838,769 shares of the oil and gas company’s stock worth $153,623,000 after buying an additional 86,084 shares in the last quarter. Cerity Partners LLC grew its position in Tidewater by 104.3% during the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after buying an additional 583,607 shares during the period. Hosking Partners LLP grew its position in Tidewater by 11.3% during the fourth quarter. Hosking Partners LLP now owns 650,785 shares of the oil and gas company’s stock worth $32,871,000 after buying an additional 65,875 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Tidewater by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,282 shares of the oil and gas company’s stock valued at $28,148,000 after buying an additional 12,874 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tidewater

In other news, EVP Samuel R. Rubio sold 17,705 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total value of $1,621,069.80. Following the sale, the executive vice president directly owned 33,214 shares in the company, valued at $3,041,073.84. This represents a 34.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on TDW. Zacks Research downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Barclays upped their price target on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Weiss Ratings cut Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Finally, Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tidewater presently has an average rating of “Hold” and an average price target of $91.00.

Tidewater Stock Up 0.1%

Shares of NYSE TDW opened at $94.35 on Monday. The firm’s 50-day moving average is $74.53 and its two-hundred day moving average is $76.92. The company has a market capitalization of $4.70 billion, a PE ratio of 19.10 and a beta of 0.53. Tidewater Inc. has a 12-month low of $46.65 and a 12-month high of $95.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The business had revenue of $342.29 million for the quarter, compared to analysts’ expectations of $329.97 million. During the same period last year, the business earned $1.46 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts anticipate that Tidewater Inc. will post 3.08 EPS for the current fiscal year.

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.