UBS Group AG Cuts Stock Holdings in Tidewater Inc. $TDW

UBS Group AG lowered its holdings in Tidewater Inc. (NYSE:TDW) by 33.9% in the 4th quarter, HoldingsChannel reports. The firm owned 752,275 shares of the oil and gas company’s stock after selling 385,498 shares during the quarter. UBS Group AG’s holdings in Tidewater were worth $37,997,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. VELA Investment Management LLC bought a new position in shares of Tidewater in the 3rd quarter worth $1,546,000. Stratos Wealth Advisors LLC purchased a new position in Tidewater in the third quarter valued at about $2,010,000. Fulcrum Asset Management LLP raised its holdings in Tidewater by 226.1% in 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 purchasing an additional 23,177 shares in the last quarter. SummerHaven Investment Management LLC purchased a new stake in shares of Tidewater during the third quarter valued at about $855,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Tidewater by 15.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 179,489 shares of the oil and gas company’s stock valued at $9,572,000 after buying an additional 24,352 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TDW. Raymond James Financial set a $117.00 target price on shares of Tidewater in a research report on Tuesday, March 3rd. Zacks Research raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Dawson James reiterated an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Finally, Barclays raised Tidewater to a “positive” rating and set a $86.00 price objective for the company in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.33.

Insiders Place Their Bets

In other Tidewater news, EVP Samuel R. Rubio sold 22,461 shares of Tidewater stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the completion of the sale, the executive vice president owned 60,066 shares of the company’s stock, valued at approximately $4,808,283.30. The trade was a 27.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Daniel A. Hudson sold 5,195 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.56, for a total value of $418,509.20. Following the sale, the executive vice president owned 45,971 shares in the company, valued at approximately $3,703,423.76. The trade was a 10.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,656 shares of company stock worth $4,079,112 over the last three months. Corporate insiders own 6.60% of the company’s stock.

Tidewater Stock Performance

TDW opened at $78.05 on Friday. The company has a market cap of $3.88 billion, a P/E ratio of 13.07 and a beta of 0.57. The company has a quick ratio of 2.78, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average price is $82.08 and its 200-day moving average price is $66.03. Tidewater Inc. has a 52-week low of $38.24 and a 52-week high of $93.13.

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 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 company had revenue of $326.22 million during the quarter, compared to analyst estimates of $322.83 million. During the same quarter last year, the business earned $0.83 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Tidewater Inc. will post 4.04 EPS 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.