TimesSquare Capital Management LLC Invests $15.46 Million in Tidewater Inc. $TDW

TimesSquare Capital Management LLC acquired a new position in shares of Tidewater Inc. (NYSE:TDW) in the second quarter, HoldingsChannel reports. The fund acquired 232,097 shares of the oil and gas company’s stock, valued at approximately $15,465,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. bought a new position in Tidewater during the first quarter worth about $26,000. Clearstead Advisors LLC increased 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 acquiring an additional 158 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 in the 2nd quarter valued at approximately $47,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Tidewater in the 4th quarter valued at approximately $53,000. Institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays boosted their price objective on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday. Weiss Ratings cut shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research 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. Finally, Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Tidewater presently has an average rating of “Hold” and a consensus target price of $91.00.

Tidewater Price Performance

NYSE TDW opened at $93.99 on Tuesday. 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 market cap of $4.68 billion, a price-to-earnings ratio of 19.03 and a beta of 0.53. The business has a 50 day simple moving average of $74.92 and a 200 day simple moving average of $77.14. Tidewater Inc. has a 52-week low of $46.65 and a 52-week high of $95.32.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The company had revenue of $342.29 million during the quarter, compared to the consensus estimate of $329.97 million. Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 EPS. Analysts anticipate that Tidewater Inc. will post 3.08 earnings per share for the current fiscal year.

Insider Activity at Tidewater

In related news, EVP Samuel R. Rubio sold 17,705 shares of the firm’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 directly owned 33,214 shares in the company, valued at $3,041,073.84. This trade represents a 34.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by insiders.

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.