Tweedy Browne Co LLC Has $757,000 Stock Holdings in Tidewater Inc. $TDW

Tweedy Browne Co LLC grew its position in Tidewater Inc. (NYSE:TDW) by 105.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,189 shares of the oil and gas company’s stock after purchasing an additional 7,282 shares during the period. Tweedy Browne Co LLC’s holdings in Tidewater were worth $757,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Fulcrum Asset Management LLP boosted its holdings in Tidewater by 226.1% in the third quarter. Fulcrum Asset Management LLP now owns 33,428 shares of the oil and gas company’s stock valued at $1,783,000 after acquiring an additional 23,177 shares during the last quarter. Castleark Management LLC bought a new position in shares of Tidewater in the 3rd quarter valued at about $2,411,000. CANADA LIFE ASSURANCE Co grew its position in shares of Tidewater by 3.1% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 35,219 shares of the oil and gas company’s stock worth $1,900,000 after buying an additional 1,060 shares during the period. Dark Forest Capital Management LP lifted its holdings in Tidewater by 296.4% in the third quarter. Dark Forest Capital Management LP now owns 41,559 shares of the oil and gas company’s stock valued at $2,216,000 after buying an additional 31,075 shares during the period. Finally, Wexford Capital LP bought a new position in Tidewater in the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Up 2.6%

Shares of NYSE TDW opened at $76.21 on Wednesday. The stock has a market cap of $3.78 billion, a P/E ratio of 11.41 and a beta of 0.57. The firm has a 50 day moving average price of $68.62 and a 200 day moving average price of $59.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.78 and a current ratio of 2.90. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $88.99.

Tidewater (NYSE:TDW) last posted its earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share for the quarter, topping the consensus estimate of $0.77 by $3.64. The company had revenue of $336.80 million for the quarter, compared to analyst estimates of $329.39 million. Tidewater had a net margin of 24.74% and a return on equity of 12.34%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.70 earnings per share. Analysts expect that Tidewater Inc. will post 3.25 EPS for the current year.

Insiders Place Their Bets

In other Tidewater news, EVP Daniel A. Hudson sold 5,195 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.56, for a total value of $418,509.20. Following the completion of the transaction, the executive vice president directly owned 45,971 shares of the company’s stock, valued at approximately $3,703,423.76. The trade was a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samuel R. Rubio sold 22,461 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the transaction, the executive vice president directly owned 60,066 shares of the company’s stock, valued at approximately $4,808,283.30. The trade was a 27.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 52,656 shares of company stock valued at $4,079,112. 6.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TDW has been the subject of a number of analyst reports. Raymond James Financial set a $117.00 target price on shares of Tidewater in a report on Tuesday, March 3rd. Dawson James restated an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $91.00.

Tidewater 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.