Wittenberg Investment Management Inc. Has $3.34 Million Stake in Tidewater Inc. $TDW

Wittenberg Investment Management Inc. decreased its holdings in shares of Tidewater Inc. (NYSE:TDW) by 16.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,212 shares of the oil and gas company’s stock after selling 13,500 shares during the quarter. Tidewater makes up about 1.3% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Wittenberg Investment Management Inc. owned 0.13% of Tidewater worth $3,344,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd acquired a new stake in Tidewater in the third quarter valued at $1,920,000. Fulcrum Asset Management LLP lifted its stake 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 valued at $1,783,000 after acquiring an additional 23,177 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Tidewater by 15.7% in the third 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 acquiring an additional 24,352 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Tidewater in the fourth quarter valued at $1,036,000. Finally, JPMorgan Chase & Co. lifted its stake in Tidewater by 286.0% in the third quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock valued at $9,986,000 after acquiring an additional 138,739 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

NYSE TDW opened at $76.94 on Monday. The firm has a 50-day moving average of $81.66 and a 200-day moving average of $70.69. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33. The stock has a market cap of $3.83 billion, a PE ratio of 12.89 and a beta of 0.50. Tidewater Inc. has a 52-week low of $44.11 and a 52-week high of $93.13.

Tidewater (NYSE:TDW) last posted its earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). The company had revenue of $326.22 million for the quarter, compared to analyst estimates of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 EPS. On average, sell-side analysts anticipate that Tidewater Inc. will post 3.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on TDW shares. Raymond James Financial set a $117.00 price target on shares of Tidewater in a research note on Tuesday, March 3rd. 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 upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday. Dawson James reiterated an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tidewater in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.