CX Institutional Boosts Position in Tidewater Inc. $TDW

CX Institutional grew its holdings in shares of Tidewater Inc. (NYSE:TDW) by 5.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 163,223 shares of the oil and gas company’s stock after acquiring an additional 8,706 shares during the quarter. CX Institutional’s holdings in Tidewater were worth $8,244,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH purchased a new stake in Tidewater in the fourth quarter worth $21,922,000. American Century Companies Inc. grew its stake in Tidewater by 74.2% in the third quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock worth $51,698,000 after purchasing an additional 412,911 shares during the period. Victory Capital Management Inc. grew its stake in Tidewater by 319.1% in the third quarter. Victory Capital Management Inc. now owns 303,015 shares of the oil and gas company’s stock worth $16,160,000 after purchasing an additional 230,706 shares during the period. Ameriprise Financial Inc. grew its stake in Tidewater by 159.7% in the second quarter. Ameriprise Financial Inc. now owns 358,563 shares of the oil and gas company’s stock worth $16,541,000 after purchasing an additional 220,473 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Tidewater by 286.0% in the third quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock worth $9,986,000 after purchasing an additional 138,739 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Trading Down 1.8%

Tidewater stock opened at $87.75 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.78 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $81.82 and its two-hundred day simple moving average is $65.23. Tidewater Inc. has a 12 month low of $37.32 and a 12 month high of $93.13. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 13.14 and a beta of 0.57.

Tidewater (NYSE:TDW) last released its earnings results on Monday, March 2nd. The oil and gas company reported $4.41 EPS 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 business had revenue of $336.80 million for the quarter, compared to the consensus estimate of $329.39 million. During the same period in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts predict that Tidewater Inc. will post 4.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Tidewater

In other Tidewater news, EVP Daniel A. Hudson sold 5,195 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.56, for a total value of $418,509.20. Following the sale, the executive vice president directly owned 45,971 shares of the company’s stock, valued at approximately $3,703,423.76. The trade was a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Samuel R. Rubio sold 22,461 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the sale, the executive vice president directly owned 60,066 shares in the company, valued at $4,808,283.30. This trade represents a 27.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,656 shares of company stock worth $4,079,112 over the last three months. Corporate insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TDW shares. Zacks Research raised Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Raymond James Financial set a $117.00 price target on Tidewater in a research note on Tuesday, March 3rd. Barclays started coverage on Tidewater in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $80.00 price target on the stock. Finally, Dawson James reaffirmed an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.33.

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.