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

Capstone Investment Advisors LLC purchased a new position in Tidewater Inc. (NYSE:TDW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 49,103 shares of the oil and gas company’s stock, valued at approximately $3,272,000.

Other institutional investors have also modified their holdings of the company. Corient Private Wealth LP acquired a new stake in Tidewater during the second quarter worth about $339,000. Punch & Associates Investment Management Inc. bought a new position in shares of Tidewater during the second quarter valued at approximately $22,811,000. Bank of America Corp DE acquired a new stake in shares of Tidewater during the 2nd quarter worth approximately $28,293,000. Freestone Grove Partners LP bought a new stake in shares of Tidewater in the 2nd quarter worth approximately $297,000. Finally, Jupiter Topco LLC bought a new stake in shares of Tidewater in the 2nd quarter worth approximately $428,000. Institutional investors own 95.13% of the company’s stock.

Tidewater Price Performance

Shares of NYSE TDW opened at $93.17 on Friday. The stock has a market cap of $4.64 billion, a P/E ratio of 18.86 and a beta of 0.53. The firm’s 50-day simple moving average is $78.38 and its 200 day simple moving average is $78.79. Tidewater Inc. has a fifty-two week low of $46.65 and a fifty-two week high of $97.50. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47.

Tidewater (NYSE:TDW) last released its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 EPS 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 analyst estimates of $329.97 million. During the same period in the previous year, the business posted $1.46 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts expect that Tidewater Inc. will post 3.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Weiss Ratings downgraded Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Barclays increased their price objective on shares of Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Finally, Zacks Research downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research 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 given a Hold rating to the company. According to data from MarketBeat.com, Tidewater currently has an average rating of “Hold” and an average price target of $91.00.

Insider Activity at Tidewater

In related news, EVP Samuel R. Rubio sold 17,705 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by corporate insiders.

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.