Caxton Associates LLP Takes Position in Tidewater Inc. $TDW

Caxton Associates LLP purchased a new position in shares of Tidewater Inc. (NYSE:TDW) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 89,196 shares of the oil and gas company’s stock, valued at approximately $4,115,000. Caxton Associates LLP owned approximately 0.18% of Tidewater as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its holdings in shares of Tidewater by 1.6% during the second quarter. Public Sector Pension Investment Board now owns 155,137 shares of the oil and gas company’s stock worth $7,156,000 after buying an additional 2,467 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in Tidewater during the second quarter worth about $225,000. Headlands Technologies LLC purchased a new stake in Tidewater during the 2nd quarter valued at about $47,000. Tower Research Capital LLC TRC raised its holdings in Tidewater by 356.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,633 shares of the oil and gas company’s stock valued at $260,000 after acquiring an additional 4,399 shares during the last quarter. Finally, Corient Private Wealth LLC purchased a new position in Tidewater in the 2nd quarter worth approximately $465,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

TDW has been the subject of a number of analyst reports. Fearnley Fonds upgraded Tidewater to a “hold” rating in a research report on Tuesday, September 16th. Zacks Research cut Tidewater from a “hold” rating to a “strong sell” rating in a report on Thursday, November 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 8th. Evercore ISI dropped their price objective on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a report on Wednesday, November 12th. Finally, Dnb Nor Markets cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $67.50.

Tidewater Price Performance

Shares of TDW opened at $55.72 on Friday. The firm has a 50-day simple moving average of $53.06 and a two-hundred day simple moving average of $52.53. The stock has a market cap of $2.76 billion, a PE ratio of 18.76 and a beta of 0.58. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $64.07. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). The company had revenue of $341.11 million for the quarter, compared to analysts’ expectations of $328.84 million. Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. As a group, analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.