Tidewater Inc. (NYSE:TDW) Shares Sold by Villere ST Denis J & Co. LLC

Villere ST Denis J & Co. LLC decreased its holdings in Tidewater Inc. (NYSE:TDW) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 480,713 shares of the oil and gas company’s stock after selling 6,095 shares during the quarter. Tidewater makes up approximately 2.0% of Villere ST Denis J & Co. LLC’s holdings, making the stock its 28th largest holding. Villere ST Denis J & Co. LLC’s holdings in Tidewater were worth $20,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Private Advisor Group LLC increased its position in Tidewater by 9.5% during the fourth quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company’s stock worth $291,000 after purchasing an additional 463 shares during the last quarter. VELA Investment Management LLC grew its stake in shares of Tidewater by 73.4% during the 4th quarter. VELA Investment Management LLC now owns 41,319 shares of the oil and gas company’s stock valued at $2,261,000 after buying an additional 17,487 shares during the period. Capital Wealth Planning LLC purchased a new stake in shares of Tidewater during the 4th quarter valued at $301,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Tidewater by 336.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company’s stock worth $87,000 after buying an additional 1,224 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Tidewater by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 490,793 shares of the oil and gas company’s stock worth $26,851,000 after buying an additional 56,276 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Trading Up 0.7%

Shares of TDW stock opened at $46.97 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $108.44. The firm’s 50 day moving average price is $41.74 and its two-hundred day moving average price is $45.61. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 14.06 and a beta of 1.07.

Tidewater (NYSE:TDW) last posted its earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.24. Tidewater had a net margin of 12.98% and a return on equity of 15.97%. During the same quarter last year, the business posted $0.89 EPS. Tidewater’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robert Robotti bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were acquired at an average cost of $42.05 per share, for a total transaction of $630,750.00. Following the acquisition, the director now owns 2,234,957 shares in the company, valued at $93,979,941.85. This represents a 0.68% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 25,560 shares of company stock worth $1,074,858 over the last quarter. 8.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Raymond James Financial reduced their target price on Tidewater from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Tidewater presently has a consensus rating of “Hold” and an average target price of $69.33.

Tidewater Company Profile

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.