American Century Companies Inc. Boosts Stake in Tidewater Inc. $TDW

American Century Companies Inc. increased its position in Tidewater Inc. (NYSE:TDW) by 74.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 969,392 shares of the oil and gas company’s stock after purchasing an additional 412,911 shares during the quarter. American Century Companies Inc. owned approximately 1.96% of Tidewater worth $51,698,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TDW. Federated Hermes Inc. bought a new position in Tidewater in the second quarter worth $28,199,000. Boston Partners grew its position in shares of Tidewater by 1,118.5% in the 2nd quarter. Boston Partners now owns 283,676 shares of the oil and gas company’s stock worth $14,089,000 after buying an additional 260,395 shares during the period. Ameriprise Financial Inc. grew its position in shares of Tidewater by 159.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 358,563 shares of the oil and gas company’s stock worth $16,541,000 after buying an additional 220,473 shares during the period. Sagil Capital LLP increased its stake in shares of Tidewater by 133.2% in the 2nd quarter. Sagil Capital LLP now owns 354,461 shares of the oil and gas company’s stock worth $16,351,000 after acquiring an additional 202,461 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Tidewater by 286.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock valued at $9,986,000 after acquiring an additional 138,739 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Insider Transactions at Tidewater

In other news, EVP Daniel A. Hudson sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the sale, the executive vice president owned 50,986 shares of the company’s stock, valued at $3,951,415. This trade represents a 22.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 6.60% of the company’s stock.

Tidewater Stock Performance

Shares of TDW opened at $80.36 on Friday. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 12.03 and a beta of 0.57. The business’s fifty day simple moving average is $64.50 and its two-hundred day simple moving average is $58.04. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $88.99. The company has a current ratio of 2.90, a quick ratio of 2.79 and a debt-to-equity ratio of 0.48.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share for the quarter, topping the consensus estimate of $0.77 by $3.64. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The firm had revenue of $336.80 million during the quarter, compared to analysts’ expectations of $329.39 million. During the same quarter in the previous year, the business earned $0.70 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. Research analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on TDW. Evercore cut their price objective on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Raymond James Financial set a $117.00 price objective on Tidewater in a research note on Tuesday. Finally, Dawson James reissued an “outperform” rating on shares of Tidewater in a report on Tuesday. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $91.00.

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.