West Tower Group LLC Sells 33,795 Shares of Tidewater Inc. (NYSE:TDW)

by · The Cerbat Gem

West Tower Group LLC lessened its position in shares of Tidewater Inc. (NYSE:TDW – Free Report) by 96.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,205 shares of the oil and gas company’s stock after selling 33,795 shares during the period. West Tower Group LLC’s holdings in Tidewater were worth $67,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Tidewater during the first quarter worth $44,000. Tower Research Capital LLC TRC increased its stake in Tidewater by 36.0% in the first quarter. Tower Research Capital LLC TRC now owns 1,021 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 270 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Tidewater by 46.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,489 shares of the oil and gas company’s stock valued at $83,000 after purchasing an additional 470 shares in the last quarter. Ensign Peak Advisors Inc bought a new stake in Tidewater in the third quarter valued at $51,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in Tidewater in the second quarter valued at $143,000. Institutional investors own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BTIG Research lifted their price target on shares of Tidewater from $75.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, September 20th. StockNews.com downgraded shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tidewater has a consensus rating of “Moderate Buy” and an average price target of $88.67.

Get Our Latest Stock Analysis on TDW

Tidewater Stock Down 0.9 %

Shares of NYSE TDW opened at $60.01 on Wednesday. The stock has a market capitalization of $3.17 billion, a P/E ratio of 45.12 and a beta of 1.22. The company has a 50-day moving average price of $64.73 and a 200-day moving average price of $60.12. Tidewater Inc. has a 1 year low of $28.59 and a 1 year high of $73.55. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.73 and a quick ratio of 1.65.

Tidewater (NYSE:TDW – Get Free Report) last issued its quarterly earnings data on Monday, November 6th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.68). The business had revenue of $299.26 million for the quarter, compared to analyst estimates of $295.05 million. Tidewater had a net margin of 7.85% and a return on equity of 10.18%. On average, equities research analysts forecast that Tidewater Inc. will post 1.78 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert Robotti acquired 1,486 shares of the stock in a transaction on Thursday, September 7th. The shares were acquired at an average price of $67.32 per share, with a total value of $100,037.52. Following the completion of the transaction, the director now owns 3,235,657 shares in the company, valued at approximately $217,824,429.24. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.59% of the company’s stock.

Tidewater Profile

(Free Report)

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore crude oil and natural gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.

Read More

Want to see what other hedge funds are holding TDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tidewater Inc. (NYSE:TDW – Free Report).