Empowered Funds LLC Takes $4.08 Million Position in Tidewater Inc. $TDW

Empowered Funds LLC bought a new stake in Tidewater Inc. (NYSE:TDW) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 61,172 shares of the oil and gas company’s stock, valued at approximately $4,076,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TDW. Inspire Investing LLC increased its holdings in Tidewater by 1.2% during the 1st quarter. Inspire Investing LLC now owns 11,332 shares of the oil and gas company’s stock worth $947,000 after purchasing an additional 131 shares during the period. Baron Wealth Management LLC boosted its stake in shares of Tidewater by 4.5% in the 2nd quarter. Baron Wealth Management LLC now owns 3,286 shares of the oil and gas company’s stock valued at $219,000 after buying an additional 141 shares during the period. Lido Advisors LLC boosted its stake in shares of Tidewater by 2.8% in the 4th quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock valued at $290,000 after buying an additional 149 shares during the period. Clearstead Advisors LLC boosted its stake in shares of Tidewater by 22.2% in the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 158 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Tidewater by 5.8% during the second quarter. GAMMA Investing LLC now owns 3,015 shares of the oil and gas company’s stock worth $201,000 after buying an additional 164 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

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 on 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 completion of the transaction, 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 filing with the SEC, which is accessible through this link. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Tidewater Trading Up 0.7%

NYSE:TDW opened at $93.23 on Tuesday. Tidewater Inc. has a 1 year low of $46.65 and a 1 year high of $97.50. The stock has a market cap of $4.64 billion, a P/E ratio of 18.87 and a beta of 0.53. 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 stock has a 50-day simple moving average of $79.48 and a 200-day simple moving average of $79.14.

Tidewater (NYSE:TDW) last issued its earnings results 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). The business 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%.Tidewater’s revenue was up .3% on a year-over-year basis. During the same period last year, the business posted $1.46 EPS. As a group, analysts anticipate that Tidewater Inc. will post 3.08 earnings per share for the current fiscal year.

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.