Tidewater Inc. $TDW Shares Bought by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its stake in shares of Tidewater Inc. (NYSE:TDW) by 631.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,838 shares of the oil and gas company’s stock after buying an additional 244,178 shares during the quarter. Tidewater accounts for about 0.8% of Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings, making the stock its 25th biggest holding. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned approximately 0.57% of Tidewater worth $23,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in TDW. Strs Ohio lifted its holdings in shares of Tidewater by 114.3% in the 1st quarter. Strs Ohio now owns 7,500 shares of the oil and gas company’s stock worth $627,000 after acquiring an additional 4,000 shares during the last quarter. Keybank National Association OH acquired a new stake in Tidewater in the 1st quarter valued at approximately $25,456,000. Capricorn Fund Managers Ltd purchased a new stake in Tidewater in the first quarter valued at approximately $460,000. Inspire Investing LLC lifted its stake in Tidewater by 1.2% during the first quarter. Inspire Investing LLC now owns 11,332 shares of the oil and gas company’s stock worth $947,000 after purchasing an additional 131 shares in the last quarter. Finally, Canoe Financial LP acquired a new position in Tidewater during the first quarter worth $22,960,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Stock Performance

NYSE:TDW opened at $67.94 on Friday. Tidewater Inc. has a fifty-two week low of $45.71 and a fifty-two week high of $93.13. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. The stock has a market cap of $3.38 billion, a PE ratio of 11.38 and a beta of 0.53. The firm’s fifty day simple moving average is $76.54 and its 200-day simple moving average is $71.80.

Tidewater (NYSE:TDW) last posted its quarterly 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). The company had revenue of $326.22 million for the quarter, compared to analyst estimates of $322.83 million. Tidewater had a net margin of 22.16% and a return on equity of 8.79%. Tidewater’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 earnings per share. Analysts expect that Tidewater Inc. will post 3.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TDW has been the subject of a number of research reports. Weiss Ratings cut Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 24th. Barclays increased their price objective 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. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Finally, Zacks Research downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Tidewater has a consensus rating of “Hold” and an average price target of $89.33.

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.