Hara Capital LLC Makes New $2.90 Million Investment in Tidewater Inc. $TDW

Hara Capital LLC bought a new stake in shares of Tidewater Inc. (NYSE:TDW) in the second quarter, Holdings Channel reports. The fund bought 43,448 shares of the oil and gas company’s stock, valued at approximately $2,895,000. Tidewater comprises 1.5% of Hara Capital LLC’s portfolio, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in TDW. Blue Trust Inc. bought a new stake in shares of Tidewater during the first quarter valued at about $26,000. Clearstead Advisors LLC raised its position in shares of Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 158 shares in the last quarter. 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 valued at $46,000 after purchasing an additional 870 shares in the last quarter. Headlands Technologies LLC bought a new stake in Tidewater in the 2nd quarter worth approximately $47,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Tidewater in the 4th quarter worth approximately $53,000. Institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

TDW has been the subject of several analyst reports. Barclays increased their price target on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Weiss Ratings downgraded shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Finally, Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tidewater presently has a consensus rating of “Hold” and a consensus target price of $91.00.

Insiders Place Their Bets

In related news, EVP Samuel R. Rubio sold 17,705 shares of Tidewater stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the sale, the executive vice president owned 33,214 shares in the company, valued at $3,041,073.84. This trade represents a 34.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is currently owned by insiders.

Tidewater Trading Up 1.1%

Shares of TDW opened at $95.65 on Friday. The firm has a market cap of $4.76 billion, a P/E ratio of 19.36 and a beta of 0.53. The company has a 50 day simple moving average of $76.20 and a two-hundred day simple moving average of $77.83. Tidewater Inc. has a 1 year low of $46.65 and a 1 year high of $96.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The firm had revenue of $342.29 million for the quarter, compared to analysts’ expectations of $329.97 million. During the same period last year, the company earned $1.46 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Tidewater Inc. will post 3.08 earnings per share for the current fiscal year.

Tidewater 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.