Black Bear Value Fund highlighted Tidewater Inc. in its second-quarter 2026 investor letter, noting the stock declined approximately 20% during the quarter but remains up roughly 32% year-to-date. The fund described Tidewater as the world's largest owner and operator of offshore support vessels, providing essential marine services to the offshore energy industry. While acknowledging near-term uncertainty, the fund expressed a constructive view on long-term fundamentals, expecting offshore capital spending to recover over the next one to two years as producers commit capital to replacing depleted reserves. Tidewater shares closed at $70.69 on July 9, 2026, with a market capitalization of $3.51 billion.
Tidewater IncFund expresses constructive view on long-term fundamentals, expecting offshore capital spending recovery.