CenterBook Partners LP Sells 147,855 Shares of Tidewater Inc. $TDW

CenterBook Partners LP reduced its stake in shares of Tidewater Inc. (NYSE:TDW) by 77.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 42,588 shares of the oil and gas company’s stock after selling 147,855 shares during the period. CenterBook Partners LP owned approximately 0.09% of Tidewater worth $2,151,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lido Advisors LLC boosted its holdings in shares of Tidewater by 2.8% in the 4th quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock worth $290,000 after purchasing an additional 149 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Tidewater by 22.2% in the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 158 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Tidewater by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,579 shares of the oil and gas company’s stock valued at $534,000 after purchasing an additional 200 shares during the last quarter. New Age Alpha Advisors LLC boosted its position in Tidewater by 12.0% during the fourth quarter. New Age Alpha Advisors LLC now owns 2,412 shares of the oil and gas company’s stock valued at $122,000 after buying an additional 258 shares during the period. Finally, Glenorchy Capital Ltd grew its stake in shares of Tidewater by 1.1% during the fourth quarter. Glenorchy Capital Ltd now owns 26,238 shares of the oil and gas company’s stock valued at $1,325,000 after buying an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TDW. Weiss Ratings reissued a “hold (c+)” rating on shares of Tidewater in a research note on Monday, June 1st. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Dawson James reissued an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Raymond James Financial set a $117.00 target price on shares of Tidewater in a research note on Tuesday, March 3rd. Finally, Barclays increased their price target on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $89.33.

Tidewater Price Performance

TDW opened at $73.18 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33. The stock has a market capitalization of $3.64 billion, a PE ratio of 12.26 and a beta of 0.49. The stock’s 50 day moving average price is $82.15 and its 200-day moving average price is $70.23. Tidewater Inc. has a 52-week low of $44.11 and a 52-week high of $93.13.

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

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.