Tidewater Inc. $TDW Shares Sold by CI Investments Inc.

CI Investments Inc. lowered its position in shares of Tidewater Inc. (NYSE:TDW) by 61.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,081 shares of the oil and gas company’s stock after selling 19,065 shares during the quarter. CI Investments Inc.’s holdings in Tidewater were worth $1,009,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new position in shares of Tidewater in the first quarter worth about $26,000. Clearstead Advisors LLC raised its holdings in Tidewater by 22.2% in the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 158 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Tidewater by 701.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Tidewater in the second quarter valued at approximately $47,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Tidewater in the 4th quarter valued at $53,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TDW. Weiss Ratings upgraded shares of Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Barclays lifted their price target on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Finally, Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Tidewater presently has a consensus rating of “Hold” and an average price target of $89.33.

Tidewater Stock Performance

NYSE TDW opened at $78.46 on Friday. Tidewater Inc. has a 52-week low of $46.65 and a 52-week high of $93.13. The firm has a market cap of $3.90 billion, a P/E ratio of 13.14 and a beta of 0.53. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $73.25 and its 200 day moving average price is $74.19.

Tidewater (NYSE:TDW) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $322.83 million. During the same period in the prior year, the firm posted $0.83 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. On average, equities research analysts expect that Tidewater Inc. will post 3.52 earnings per share for the current 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.