Old West Investment Management LLC Purchases Shares of 393,788 Tidewater Inc. $TDW

Old West Investment Management LLC acquired a new position in shares of Tidewater Inc. (NYSE:TDW) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 393,788 shares of the oil and gas company’s stock, valued at approximately $26,238,000. Tidewater makes up approximately 2.8% of Old West Investment Management LLC’s holdings, making the stock its 3rd biggest position. Old West Investment Management LLC owned approximately 0.79% of Tidewater at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TDW. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Tidewater during the 4th quarter worth approximately $1,036,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Tidewater in the 4th quarter valued at $1,953,000. Tejara Capital Ltd lifted its position in shares of Tidewater by 127.6% during the 4th quarter. Tejara Capital Ltd now owns 44,600 shares of the oil and gas company’s stock worth $2,253,000 after purchasing an additional 25,000 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Tidewater by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 323,869 shares of the oil and gas company’s stock worth $27,059,000 after purchasing an additional 20,472 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Tidewater during the fourth quarter worth $346,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tidewater

In other news, EVP Samuel R. 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 transaction of $1,621,069.80. Following the completion of the sale, the executive vice president owned 33,214 shares in the company, valued at approximately $3,041,073.84. This represents a 34.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tidewater Stock Performance

Shares of TDW stock opened at $94.35 on Monday. The stock’s 50-day moving average is $74.53 and its two-hundred day moving average is $76.92. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. Tidewater Inc. has a 1 year low of $46.65 and a 1 year high of $95.32. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 19.10 and a beta of 0.53.

Tidewater (NYSE:TDW) last posted its earnings results 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). The firm had revenue of $342.29 million during the quarter, compared to analysts’ expectations of $329.97 million. Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. Analysts predict that Tidewater Inc. will post 3.08 earnings per share for the current year.

About Tidewater

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.