NewEdge Advisors LLC Has $1.04 Million Stake in Tidewater Inc. $TDW

NewEdge Advisors LLC raised its position in Tidewater Inc. (NYSE:TDW) by 1,208.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,428 shares of the oil and gas company’s stock after buying an additional 11,478 shares during the quarter. NewEdge Advisors LLC’s holdings in Tidewater were worth $1,038,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. bought a new position in Tidewater in the first quarter valued at about $26,000. Clearstead Advisors LLC increased its holdings in shares of Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after buying an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Tidewater by 701.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 870 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Tidewater during the 2nd quarter valued at $47,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Tidewater during the 4th quarter valued at $53,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Transactions at Tidewater

In other Tidewater 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 sale, the executive vice president owned 33,214 shares of the company’s stock, valued at $3,041,073.84. The trade was a 34.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

Tidewater Trading Down 0.3%

TDW opened at $93.99 on Tuesday. Tidewater Inc. has a fifty-two week low of $46.65 and a fifty-two week high of $95.32. The firm has a market capitalization of $4.68 billion, a PE ratio of 19.03 and a beta of 0.53. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47. The company’s 50-day moving average is $74.92 and its 200 day moving average is $77.14.

Tidewater (NYSE:TDW) last issued its quarterly earnings data 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 company had revenue of $342.29 million for the quarter, compared to the consensus estimate of $329.97 million. During the same quarter last year, the business posted $1.46 earnings per share. Tidewater’s revenue was up .3% on a year-over-year basis. As a group, research analysts predict that Tidewater Inc. will post 3.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TDW shares. Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Barclays raised their price objective on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday. Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Finally, Weiss Ratings lowered Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. One equities research 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target 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.