Goldentree Asset Management LP Has $33.66 Million Stake in Tidewater Inc. $TDW

Goldentree Asset Management LP trimmed its position in shares of Tidewater Inc. (NYSE:TDW) by 25.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 731,333 shares of the oil and gas company’s stock after selling 243,800 shares during the quarter. Tidewater comprises about 3.3% of Goldentree Asset Management LP’s investment portfolio, making the stock its 9th largest holding. Goldentree Asset Management LP’s holdings in Tidewater were worth $33,661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Tidewater by 2,321.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 650 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Tidewater in the first quarter worth $40,000. Parkside Financial Bank & Trust increased its position in shares of Tidewater by 4,245.0% during the second quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 849 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Tidewater by 2,510.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 992 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 954 shares during the last quarter. Finally, Bogart Wealth LLC lifted its holdings in shares of Tidewater by 28.6% during the 2nd quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Stock Performance

NYSE TDW opened at $56.92 on Tuesday. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $64.07. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.79 and a current ratio of 2.89. The firm has a market capitalization of $2.82 billion, a P/E ratio of 19.16 and a beta of 0.58. The stock has a 50-day simple moving average of $52.78 and a two-hundred day simple moving average of $52.13.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.48). Tidewater had a net margin of 11.14% and a return on equity of 14.86%. The company had revenue of $341.11 million for the quarter, compared to analysts’ expectations of $328.84 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. On average, equities analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current year.

Analysts Set New Price Targets

TDW has been the topic of several recent analyst reports. Dnb Nor Markets lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Evercore ISI dropped their price target on Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 12th. Zacks Research lowered shares of Tidewater from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. Fearnley Fonds upgraded shares of Tidewater to a “hold” rating in a research note on Tuesday, September 16th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Tidewater in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $67.50.

About Tidewater

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.