Capstone Investment Advisors LLC Invests $3.27 Million in Tidewater Inc. $TDW

Capstone Investment Advisors LLC bought a new stake in Tidewater Inc. (NYSE:TDW) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 49,103 shares of the oil and gas company’s stock, valued at approximately $3,272,000. Capstone Investment Advisors LLC owned approximately 0.10% of Tidewater as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Tidewater in the second quarter valued at approximately $503,200,000. Robotti Robert acquired a new position in shares of Tidewater during the second quarter worth $193,652,000. State Street Corp boosted its stake in shares of Tidewater by 4.7% in the fourth quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock valued at $96,064,000 after purchasing an additional 85,697 shares during the period. Dimensional Fund Advisors LP grew its holdings in 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 valued at $153,623,000 after purchasing an additional 86,084 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings 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 valued at $57,730,000 after purchasing an additional 583,607 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Samuel R. Rubio sold 17,705 shares of Tidewater stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total value of $1,621,069.80. Following the completion of the transaction, the executive vice president owned 33,214 shares in the company, valued at approximately $3,041,073.84. This trade represents a 34.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on TDW. Weiss Ratings lowered shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Barclays raised their price objective on Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Finally, Zacks Research downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.00.

Tidewater Price Performance

Shares of TDW stock opened at $93.17 on Friday. The firm has a fifty day moving average of $78.38 and a two-hundred day moving average of $78.79. The firm has a market cap of $4.64 billion, a P/E ratio of 18.86 and a beta of 0.53. Tidewater Inc. has a 1-year low of $46.65 and a 1-year high of $97.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47.

Tidewater (NYSE:TDW) last issued its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $329.97 million. During the same quarter last year, the company posted $1.46 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts anticipate 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.