Tidewater Inc. $TDW Shares Bought by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its stake in Tidewater Inc. (NYSE:TDW) by 631.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 282,838 shares of the oil and gas company’s stock after acquiring an additional 244,178 shares during the quarter. Tidewater comprises approximately 0.8% of Fideuram Intesa Sanpaolo Private Banking S.P.A.’s portfolio, making the stock its 25th biggest holding. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Tidewater were worth $23,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in TDW. Blue Trust Inc. acquired a new position in Tidewater in the 1st quarter valued at about $26,000. Clearstead Advisors LLC grew 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 raised its position in shares of Tidewater by 701.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 870 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Tidewater during the second quarter valued at approximately $47,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Tidewater during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TDW. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Weiss Ratings lowered Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 24th. Barclays raised their price target on Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Finally, Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Tidewater has a consensus rating of “Hold” and a consensus target price of $89.33.

Tidewater Price Performance

Shares of Tidewater stock opened at $67.94 on Friday. The business’s fifty day moving average price is $76.54 and its 200 day moving average price is $71.80. Tidewater Inc. has a twelve month low of $45.71 and a twelve month high of $93.13. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $3.38 billion, a P/E ratio of 11.38 and a beta of 0.53.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.63). The firm had revenue of $326.22 million for the quarter, compared to analyst estimates of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. As a group, research analysts anticipate that Tidewater Inc. will post 3.52 earnings per share for the current 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.