Tweedy Browne Co LLC Purchases 7,282 Shares of Tidewater Inc. $TDW

Tweedy Browne Co LLC boosted its holdings in shares of Tidewater Inc. (NYSE:TDW) by 105.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,189 shares of the oil and gas company’s stock after buying an additional 7,282 shares during the period. Tweedy Browne Co LLC’s holdings in Tidewater were worth $757,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fulcrum Asset Management LLP raised its stake in shares of Tidewater by 226.1% in the 3rd quarter. Fulcrum Asset Management LLP now owns 33,428 shares of the oil and gas company’s stock valued at $1,783,000 after buying an additional 23,177 shares in the last quarter. Castleark Management LLC bought a new stake in Tidewater in the third quarter valued at about $2,411,000. CANADA LIFE ASSURANCE Co increased its stake in Tidewater by 3.1% in the third quarter. CANADA LIFE ASSURANCE Co now owns 35,219 shares of the oil and gas company’s stock valued at $1,900,000 after acquiring an additional 1,060 shares during the period. Dark Forest Capital Management LP raised its position in Tidewater by 296.4% in the third quarter. Dark Forest Capital Management LP now owns 41,559 shares of the oil and gas company’s stock worth $2,216,000 after purchasing an additional 31,075 shares in the last quarter. Finally, Wexford Capital LP acquired a new position in Tidewater in the third quarter worth about $56,000. Institutional investors own 95.13% of the company’s stock.

Tidewater Trading Up 2.6%

Shares of TDW stock opened at $76.21 on Wednesday. The company has a market capitalization of $3.78 billion, a P/E ratio of 11.41 and a beta of 0.57. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $88.99. The company has a quick ratio of 2.78, a current ratio of 2.90 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $68.62 and a 200 day moving average price of $59.05.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share for the quarter, topping the consensus estimate of $0.77 by $3.64. Tidewater had a net margin of 24.74% and a return on equity of 12.34%. The firm had revenue of $336.80 million for the quarter, compared to analysts’ expectations of $329.39 million. During the same period in the prior year, the firm earned $0.70 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tidewater news, EVP Samuel R. Rubio sold 22,461 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the sale, the executive vice president owned 60,066 shares in the company, valued at approximately $4,808,283.30. This trade represents a 27.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel A. Hudson sold 5,195 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.56, for a total transaction of $418,509.20. Following the completion of the transaction, the executive vice president directly owned 45,971 shares of the company’s stock, valued at approximately $3,703,423.76. This represents a 10.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,656 shares of company stock valued at $4,079,112 over the last ninety days. Insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

TDW has been the topic of a number of recent research reports. Raymond James Financial set a $117.00 price objective on Tidewater in a report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Dawson James restated an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Finally, Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $91.00.

Tidewater Company 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.