Manatuck Hill Partners LLC Invests $939,000 in Tidewater Inc. $TDW

Manatuck Hill Partners LLC bought a new position in Tidewater Inc. (NYSE:TDW) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 14,100 shares of the oil and gas company’s stock, valued at approximately $939,000.

A number of other institutional investors have also recently added to or reduced their stakes in TDW. BlackRock Inc. acquired a new stake in Tidewater during the second quarter worth about $503,200,000. Robotti Robert acquired a new position in shares of Tidewater in the 2nd quarter valued at about $193,652,000. State Street Corp grew its holdings in shares of Tidewater by 4.7% during the 4th quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock worth $96,064,000 after purchasing an additional 85,697 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Tidewater by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,838,769 shares of the oil and gas company’s stock worth $153,623,000 after purchasing an additional 86,084 shares during the period. Finally, Cerity Partners LLC increased its position in Tidewater by 104.3% during the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after purchasing an additional 583,607 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on TDW shares. Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Barclays increased their target price on Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Zacks Research downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note 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. Finally, Weiss Ratings downgraded Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Tidewater presently has an average rating of “Hold” and an average price target of $91.00.

Insider Buying and Selling at Tidewater

In other news, EVP Samuel R. Rubio sold 17,705 shares of the company’s 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.90% of the company’s stock.

Tidewater Stock Performance

Shares of TDW opened at $92.36 on Wednesday. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 18.70 and a beta of 0.53. 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 business’s 50 day moving average is $77.39 and its two-hundred day moving average is $78.42. Tidewater Inc. has a 52-week low of $46.65 and a 52-week high of $97.50.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The company had revenue of $342.29 million for the quarter, compared to analyst estimates of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 EPS. Analysts forecast that Tidewater Inc. will post 3.08 EPS for the current fiscal 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.