Tidewater Inc (TDW, Financial), a leading provider of offshore service vessels and marine support services to the global offshore energy industry, operates a diversified fleet of marine service vessels. The company's vessels and associated vessel services support all phases of offshore exploration, field development, and production. With a significant portion of its revenue derived from West Africa, Tidewater Inc has sparked keen interest among investors due to its recent market performance and ownership trends.
A Closer Look at Tidewater Inc's Market Performance
As of the latest available data, Tidewater Inc (TDW, Financial) has an outstanding share count of 52.67 million. Institutional ownership stands at 30.73 million shares, constituting 58.35% of the total shares. Meanwhile, insiders hold 1.79 million shares, accounting for 3.39% of the total share count.
Tidewater Inc experienced a decline of about 8.03% in its stock value over the past week. As of Oct 11 2023, the stock fell by 0.26%, contrasting with its three-month return of 15.86. The company's market cap rose to $2.82 billion in the most recent quarter from $2.24 billion in the preceding one.
Income Breakdown of Tidewater Inc
Institutional Ownership and Key Players
Tidewater Inc's institutional ownership history reveals the levels of trust and confidence that major players have in the company's future. As of 2023-09-30, Tidewater Inc's institutional ownership level is 58.35%, up from 57.94% as of 2023-06-30 but down from 82.09% from a year ago.
Among the most significant stakeholders, the top fund managers owning chunks of Tidewater Inc's stock are Third Avenue Management (Trades, Portfolio), Third Avenue Value Fund (Trades, Portfolio), and HOTCHKIS & WILEY (Trades, Portfolio), with 2.09%, 1.33%, and 0.34% of shares outstanding respectively.
Delving into Earnings: Past and Future
Over the past three years, Tidewater Inc's Ebitda growth averaged 0% per year, which is worse than 0% of 821 companies in the Oil & Gas industry. Looking forward, the estimated earnings growth for Tidewater Inc is 0% per year, lower than the earnings growth of 49.1% during the past three years.
Insider Ownership and Activities
Insider ownership offers insights into the convictions of the company's board directors and C-level employees. Tidewater Inc's insider ownership is approximately 3.39% as of 2023-08-31, compared to insider ownership of 3.87% from a year ago, reflecting the decreased faith of those intimately familiar with the company's operations.
Recent insider trades provide a nuanced view of this sentiment. During the past three months, Tidewater Inc had 2 insider sell transactions and 6 insider buy transactions.
Next steps
In the ever-evolving realm of stocks, understanding the nuances of ownership and earnings is critical. Tidewater Inc's recent dip is a case study in how major players react to market shifts, and their movements offer crucial insights for potential investors. As always, a holistic view, combining both past performance and future projections, remains key to sound investment decisions.
Screen for stocks with high Insider Cluster Buys using the following page: https://www.gurufocus.com/insider/cluster.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
