Glenorchy Capital Ltd Has $1.39 Million Stake in Tidewater Inc. (NYSE:TDW)

Glenorchy Capital Ltd reduced its holdings in Tidewater Inc. (NYSE:TDW) by 84.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,419 shares of the oil and gas company’s stock after selling 137,294 shares during the period. Glenorchy Capital Ltd’s holdings in Tidewater were worth $1,391,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tidal Investments LLC boosted its position in shares of Tidewater by 8.1% during the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 267 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock worth $58,000 after buying an additional 333 shares during the period. Tectonic Advisors LLC lifted its holdings in Tidewater by 2.3% during the fourth quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company’s stock worth $961,000 after acquiring an additional 402 shares in the last quarter. Private Advisor Group LLC grew its stake in Tidewater by 9.5% in the fourth quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company’s stock valued at $291,000 after acquiring an additional 463 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Tidewater by 13.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,154 shares of the oil and gas company’s stock worth $227,000 after acquiring an additional 479 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TDW. Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Raymond James reduced their price target on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and dropped their price objective for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.50.

Tidewater Stock Performance

Shares of TDW stock opened at $41.44 on Friday. The firm has a market cap of $2.11 billion, a PE ratio of 12.19 and a beta of 1.00. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $110.06. The company’s fifty day simple moving average is $38.55 and its 200-day simple moving average is $48.28. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

Tidewater (NYSE:TDW) last released its earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.24. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. During the same period in the prior year, the company earned $0.89 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insider Transactions at Tidewater

In other news, Director Robert Robotti bought 1,770 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $40.95 per share, with a total value of $72,481.50. Following the acquisition, the director now owns 2,183,670 shares in the company, valued at $89,421,286.50. This trade represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.33% of the company’s stock.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.