Fulcrum Asset Management LLP Purchases 23,177 Shares of Tidewater Inc. $TDW

Fulcrum Asset Management LLP boosted its position in Tidewater Inc. (NYSE:TDW) by 226.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,428 shares of the oil and gas company’s stock after purchasing an additional 23,177 shares during the period. Tidewater makes up approximately 1.2% of Fulcrum Asset Management LLP’s holdings, making the stock its 17th largest holding. Fulcrum Asset Management LLP’s holdings in Tidewater were worth $1,783,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Castleark Management LLC bought a new position in shares of Tidewater during the 3rd quarter worth $2,411,000. CANADA LIFE ASSURANCE Co increased its holdings in Tidewater by 3.1% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 35,219 shares of the oil and gas company’s stock worth $1,900,000 after acquiring an additional 1,060 shares during the last quarter. Dark Forest Capital Management LP raised its stake in Tidewater by 296.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 41,559 shares of the oil and gas company’s stock valued at $2,216,000 after acquiring an additional 31,075 shares during the period. Wexford Capital LP bought a new stake in Tidewater in the 3rd quarter valued at about $56,000. Finally, Pureheart Capital Pte Ltd. purchased a new stake in Tidewater during the third quarter valued at about $2,347,000. 95.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TDW has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Raymond James Financial set a $117.00 price objective on shares of Tidewater in a report on Tuesday, March 3rd. Finally, Dawson James reiterated an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tidewater currently has a consensus rating of “Hold” and an average price target of $91.00.

Insider Activity at Tidewater

In related news, EVP Samuel R. Rubio sold 22,461 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the sale, the executive vice president owned 60,066 shares of the company’s stock, valued at approximately $4,808,283.30. This represents a 27.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel A. Hudson sold 15,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the completion of the sale, the executive vice president owned 50,986 shares in the company, valued at $3,951,415. This represents a 22.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 52,656 shares of company stock valued at $4,079,112. 6.60% of the stock is owned by corporate insiders.

Tidewater Stock Up 2.6%

Shares of NYSE TDW opened at $76.21 on Wednesday. The company has a quick ratio of 2.78, a current ratio of 2.90 and a debt-to-equity ratio of 0.48. The company has a market cap of $3.78 billion, a P/E ratio of 11.41 and a beta of 0.57. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $88.99. The business has a 50-day simple moving average of $68.62 and a two-hundred day simple moving average of $59.05.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share for the quarter, beating the consensus estimate of $0.77 by $3.64. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The firm had revenue of $336.80 million for the quarter, compared to analysts’ expectations of $329.39 million. During the same period in the prior year, the business posted $0.70 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. Research analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

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.