Tidewater Inc. (NYSE:TDW) Shares Bought by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust increased its position in Tidewater Inc. (NYSE:TDW) by 23.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 201,504 shares of the oil and gas company’s stock after acquiring an additional 37,943 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.38% of Tidewater worth $19,185,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Tidewater by 25.7% in the first quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock worth $442,956,000 after purchasing an additional 985,398 shares in the last quarter. Boston Partners increased its stake in Tidewater by 11.7% during the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after buying an additional 243,489 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Tidewater by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,805,483 shares of the oil and gas company’s stock worth $130,195,000 after buying an additional 31,292 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Tidewater by 72.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company’s stock worth $42,257,000 after acquiring an additional 185,972 shares during the period. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of Tidewater in the first quarter valued at approximately $34,898,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Raymond James upped their target price on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $111.25.

Insider Transactions at Tidewater

In related news, Director Louis Raspino sold 25,666 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $104.19, for a total value of $2,674,140.54. Following the completion of the transaction, the director now owns 43,832 shares in the company, valued at approximately $4,566,856.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tidewater news, CEO Quintin Kneen sold 166,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $103.76, for a total transaction of $17,224,160.00. Following the sale, the chief executive officer now directly owns 335,718 shares of the company’s stock, valued at approximately $34,834,099.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Louis Raspino sold 25,666 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $104.19, for a total value of $2,674,140.54. Following the completion of the sale, the director now owns 43,832 shares of the company’s stock, valued at approximately $4,566,856.08. The disclosure for this sale can be found here. Insiders have sold 211,666 shares of company stock valued at $22,025,901 over the last three months. Company insiders own 8.33% of the company’s stock.

Tidewater Stock Performance

NYSE:TDW opened at $74.43 on Friday. The company has a 50-day moving average of $91.82 and a 200-day moving average of $93.13. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 29.65 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. Tidewater Inc. has a twelve month low of $54.53 and a twelve month high of $111.42.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The firm had revenue of $339.20 million for the quarter, compared to analyst estimates of $331.85 million. During the same quarter in the previous year, the business posted $0.46 earnings per share. The firm’s quarterly revenue was up 57.8% compared to the same quarter last year. Analysts forecast that Tidewater Inc. will post 4.4 earnings per share for the current fiscal year.

Tidewater announced that its Board of Directors has approved a share buyback program on Tuesday, August 6th that allows the company to buyback $13.90 million in shares. This buyback authorization allows the oil and gas company to purchase up to 0.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Tidewater Profile

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 oil and 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.