Wellington Management Group LLP Purchases 147,189 Shares of Tidewater Inc. $TDW

Wellington Management Group LLP raised its position in Tidewater Inc. (NYSE:TDW) by 11.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,475,804 shares of the oil and gas company’s stock after purchasing an additional 147,189 shares during the period. Wellington Management Group LLP’s holdings in Tidewater were worth $98,333,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TDW. Inspire Investing LLC grew its holdings in shares of Tidewater by 1.2% in the 1st quarter. Inspire Investing LLC now owns 11,332 shares of the oil and gas company’s stock valued at $947,000 after buying an additional 131 shares during the period. Baron Wealth Management LLC raised its stake in Tidewater by 4.5% during the 2nd quarter. Baron Wealth Management LLC now owns 3,286 shares of the oil and gas company’s stock worth $219,000 after buying an additional 141 shares during the period. Lido Advisors LLC lifted its holdings in Tidewater by 2.8% during the fourth quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock worth $290,000 after acquiring an additional 149 shares in the last quarter. Clearstead Advisors LLC grew its stake in Tidewater by 22.2% in the fourth 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 period. Finally, GAMMA Investing LLC increased its holdings in shares of Tidewater by 5.8% in the second quarter. GAMMA Investing LLC now owns 3,015 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 164 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Tidewater

In related news, EVP Samuel R. Rubio sold 17,705 shares of the business’s stock in a transaction on 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 transaction, the executive vice president directly owned 33,214 shares in the company, valued at approximately $3,041,073.84. The trade was 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 hyperlink. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TDW shares. Barclays raised their price target on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Weiss Ratings downgraded shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Finally, Zacks Research cut shares of 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, three have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.25.

Tidewater Stock Performance

TDW opened at $96.44 on Wednesday. The business’s 50-day simple moving average is $80.07 and its 200 day simple moving average is $79.32. Tidewater Inc. has a 52-week low of $46.65 and a 52-week high of $98.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. The firm has a market capitalization of $4.80 billion, a PE ratio of 19.52 and a beta of 0.56.

Tidewater (NYSE:TDW) last posted 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 during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, sell-side analysts expect that Tidewater Inc. will post 3.08 earnings per share 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.