Bessemer Group Inc. Acquires 40,588 Shares of Tidewater Inc. $TDW

Bessemer Group Inc. increased its stake in Tidewater Inc. (NYSE:TDW) by 71.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,719 shares of the oil and gas company’s stock after acquiring an additional 40,588 shares during the period. Bessemer Group Inc.’s holdings in Tidewater were worth $8,165,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new stake in Tidewater during the first quarter valued at approximately $26,000. Clearstead Advisors LLC boosted 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 purchasing an additional 158 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Tidewater by 701.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 870 shares during the period. Headlands Technologies LLC bought a new position in shares of Tidewater during the 2nd quarter valued at approximately $47,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Tidewater during the 4th quarter valued at approximately $53,000. 95.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TDW has been the topic of several recent research reports. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Weiss Ratings raised shares of Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Finally, Barclays raised their target price on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.33.

Tidewater Trading Down 0.0%

TDW opened at $75.81 on Monday. 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’s 50 day moving average price is $73.69 and its 200-day moving average price is $73.43. Tidewater Inc. has a one year low of $46.65 and a one year high of $93.13. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 12.70 and a beta of 0.53.

Tidewater (NYSE:TDW) last issued 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). 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 the consensus estimate of $322.83 million. During the same period in the prior year, the business posted $0.83 earnings per share. Tidewater’s revenue was down 2.2% on a year-over-year basis. On average, equities analysts forecast that Tidewater Inc. will post 3.52 EPS for the current year.

About Tidewater

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.