Hara Capital LLC Takes $2.90 Million Position in Tidewater Inc. $TDW

Hara Capital LLC purchased a new position in shares of Tidewater Inc. (NYSE:TDW) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 43,448 shares of the oil and gas company’s stock, valued at approximately $2,895,000. Tidewater comprises approximately 1.5% of Hara Capital LLC’s portfolio, making the stock its 20th largest position. Hara Capital LLC owned about 0.09% of Tidewater at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TDW. Royal Bank of Canada grew its holdings in shares of Tidewater by 22.6% during the first quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock worth $980,000 after purchasing an additional 4,278 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Tidewater by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock worth $1,227,000 after buying an additional 1,271 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Tidewater by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock worth $1,895,000 after buying an additional 1,931 shares in the last quarter. Cetera Investment Advisers increased its position in Tidewater by 4.1% in the 2nd quarter. Cetera Investment Advisers now owns 8,010 shares of the oil and gas company’s stock valued at $370,000 after acquiring an additional 314 shares in the last quarter. Finally, Invesco Ltd. increased its position in Tidewater by 12.1% in the 2nd quarter. Invesco Ltd. now owns 227,443 shares of the oil and gas company’s stock valued at $10,492,000 after acquiring an additional 24,609 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Tidewater Stock Up 1.1%

Tidewater stock opened at $95.65 on Friday. The stock has a market cap of $4.76 billion, a P/E ratio of 19.36 and a beta of 0.53. The company’s 50-day moving average price is $76.20 and its two-hundred day moving average price is $77.83. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47. Tidewater Inc. has a twelve month low of $46.65 and a twelve month high of $96.63.

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TDW. Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Barclays increased their target price on shares of Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Finally, Weiss Ratings lowered Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $91.00.

Tidewater Company 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.