Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys New Stake in Tidewater Inc. $TDW

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Tidewater Inc. (NYSE:TDW) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 38,660 shares of the oil and gas company’s stock, valued at approximately $1,953,000.

Other large investors have also recently made changes to their positions in the company. Blume Capital Management Inc. lifted its stake in shares of Tidewater by 128.3% in the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Hantz Financial Services Inc. raised its position in Tidewater by 401.0% during the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 413 shares during the period. EverSource Wealth Advisors LLC raised its position in Tidewater by 701.6% during the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 870 shares during the period. Headlands Technologies LLC acquired a new position in Tidewater during the second quarter worth $47,000. Finally, Wexford Capital LP acquired a new position in Tidewater during the third quarter worth $56,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Price Performance

Tidewater stock opened at $81.04 on Friday. Tidewater Inc. has a 52-week low of $38.24 and a 52-week high of $93.13. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 13.58 and a beta of 0.57. The company has a fifty day simple moving average of $82.50 and a 200-day simple moving average of $68.36. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48.

Tidewater (NYSE:TDW) last released its earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The business had revenue of $326.22 million for the quarter, compared to analysts’ expectations of $322.83 million. During the same period in the previous year, the company earned $0.83 EPS. Tidewater’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Tidewater Inc. will post 3.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TDW. Raymond James Financial set a $117.00 price objective on shares of Tidewater in a research report on Tuesday, March 3rd. Barclays upped their price objective on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Dawson James restated an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.33.

Insider Transactions at Tidewater

In related news, EVP Daniel A. Hudson sold 5,195 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.56, for a total value of $418,509.20. Following the completion of the sale, the executive vice president 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Samuel R. Rubio sold 22,461 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the completion of the sale, the executive vice president directly owned 60,066 shares of the company’s stock, valued at $4,808,283.30. This represents a 27.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 42,656 shares of company stock valued at $3,379,012 in the last three months. 5.90% of the stock is currently owned by insiders.

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.