Van ECK Associates Corp Trims Stake in Tidewater Inc. $TDW

Van ECK Associates Corp reduced its stake in Tidewater Inc. (NYSE:TDW) by 11.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 764,490 shares of the oil and gas company’s stock after selling 97,291 shares during the period. Van ECK Associates Corp’s holdings in Tidewater were worth $50,938,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of Tidewater by 22.6% during the 1st quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock worth $980,000 after acquiring an additional 4,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Tidewater by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock valued at $1,227,000 after purchasing an additional 1,271 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Tidewater by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock valued at $1,895,000 after purchasing an additional 1,931 shares during the period. Cetera Investment Advisers boosted its position in shares of Tidewater by 4.1% during the second quarter. Cetera Investment Advisers now owns 8,010 shares of the oil and gas company’s stock valued at $370,000 after purchasing an additional 314 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Tidewater by 12.1% in the second quarter. Invesco Ltd. now owns 227,443 shares of the oil and gas company’s stock worth $10,492,000 after purchasing an additional 24,609 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Samuel R. Rubio sold 17,705 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was 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 owned 33,214 shares in the company, valued at $3,041,073.84. The trade was a 34.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

Tidewater Trading Down 0.4%

Shares of NYSE TDW opened at $92.65 on Friday. The firm’s 50 day moving average price is $78.94 and its 200-day moving average price is $78.89. The company has a market cap of $4.61 billion, a PE ratio of 18.76 and a beta of 0.53. Tidewater Inc. has a 52-week low of $46.65 and a 52-week high of $97.50. 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 (NYSE:TDW) last announced its quarterly 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). Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The firm had revenue of $342.29 million for the quarter, compared to the consensus estimate of $329.97 million. During the same period last year, the business earned $1.46 EPS. Tidewater’s revenue was up .3% on a year-over-year basis. On average, equities research analysts expect that Tidewater Inc. will post 3.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TDW has been the subject of several recent research reports. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Barclays lifted 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. Finally, Weiss Ratings cut shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $91.00.

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.