Tidewater Inc. $TDW Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH reduced its stake in Tidewater Inc. (NYSE:TDW) by 27.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 494,382 shares of the oil and gas company’s stock after selling 189,323 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Tidewater were worth $40,094,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in Tidewater by 7.3% during the third quarter. GAMMA Investing LLC now owns 3,236 shares of the oil and gas company’s stock valued at $262,000 after purchasing an additional 221 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Tidewater by 5.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 37,992 shares of the oil and gas company’s stock worth $3,081,000 after buying an additional 2,029 shares during the last quarter. Versant Capital Management Inc boosted its stake in Tidewater by 142.6% in the third quarter. Versant Capital Management Inc now owns 740 shares of the oil and gas company’s stock worth $60,000 after buying an additional 435 shares in the last quarter. Tidal Investments LLC boosted its stake in Tidewater by 26.1% in the second quarter. Tidal Investments LLC now owns 14,114 shares of the oil and gas company’s stock worth $940,000 after buying an additional 2,923 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Tidewater during the second quarter valued at approximately $74,000. Institutional investors own 95.13% of the company’s stock.

Tidewater Trading Down 5.0%

Shares of TDW opened at $82.60 on Thursday. Tidewater Inc. has a twelve month low of $46.65 and a twelve month high of $101.57. The stock has a market capitalization of $4.11 billion, a P/E ratio of 16.72 and a beta of 0.60. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $89.17 and a two-hundred day simple moving average of $81.74.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $329.97 million. During the same quarter last year, the business posted $1.46 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, research analysts anticipate that Tidewater Inc. will post 3.08 EPS for the current year.

Insider Activity at Tidewater

In related news, EVP Samuel Rubio sold 17,705 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total value of $1,621,069.80. Following the completion of the transaction, the executive vice president directly owned 33,214 shares of the company’s stock, valued at $3,041,073.84. This represents a 34.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel Hudson sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $99.08, for a total transaction of $1,486,200.00. Following the completion of the sale, the executive vice president owned 33,029 shares of the company’s stock, valued at $3,272,513.32. This trade represents a 31.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,705 shares of company stock worth $4,097,270 over the last 90 days. 5.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on TDW shares. Weiss Ratings raised shares of Tidewater from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. BTIG Research reissued a “buy” rating and issued a $120.00 price target on shares of Tidewater in a research note on Friday, October 9th. Finally, Barclays upped their price target on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.25.

Tidewater Company Profile

Tidewater Inc is a global provider of offshore marine support services to the energy industry. The company operates a fleet of offshore support vessels that transport personnel, equipment and supplies to offshore facilities and assist with marine logistics, construction, maintenance and other activities.

Its vessel portfolio includes platform supply vessels, anchor-handling tug supply vessels, fast support vessels and other specialized ships designed for offshore operations. Tidewater serves customers involved in offshore oil and gas development, as well as selected activities associated with offshore wind and other marine energy projects.

Founded in 1955, Tidewater is headquartered in Houston, Texas, and serves offshore markets across regions including the Americas, Europe, the Middle East, Africa and Asia-Pacific.