Tidewater Inc. (NYSE:TDW) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,557 shares of the oil and gas company's stock after selling 6,927 shares during the quarter. Allianz Asset Management GmbH owned about 0.14% of Tidewater worth $2,940,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Signaturefd LLC increased its stake in Tidewater by 33.3% during the 1st quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock valued at $48,000 after purchasing an additional 282 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in Tidewater by 1.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 27,448 shares of the oil and gas company's stock valued at $1,160,000 after purchasing an additional 405 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Tidewater by 13.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,154 shares of the oil and gas company's stock valued at $227,000 after purchasing an additional 479 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Tidewater by 0.9% during the 4th quarter. Russell Investments Group Ltd. now owns 55,202 shares of the oil and gas company's stock valued at $3,020,000 after purchasing an additional 496 shares in the last quarter. Finally, Spire Wealth Management increased its stake in shares of Tidewater by 14.3% in the first quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company's stock worth $168,000 after acquiring an additional 498 shares during the period. Institutional investors own 95.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TDW. BTIG Research lowered shares of Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Raymond James Financial cut their price objective on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $69.33.

Tidewater Stock Performance

NYSE TDW traded down $2.50 during mid-day trading on Friday, reaching $47.51. 930,594 shares of the stock were exchanged, compared to its average volume of 1,061,870. The business's 50 day moving average is $47.02 and its 200-day moving average is $45.20. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $91.76. The company has a market capitalization of $2.35 billion, a P/E ratio of 14.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.00 and a current ratio of 2.07.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the prior year, the firm earned $0.89 EPS. Tidewater's revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Robotti acquired 15,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were acquired at an average cost of $42.05 per share, with a total value of $630,750.00. Following the completion of the acquisition, the director directly owned 2,234,957 shares in the company, valued at approximately $93,979,941.85. This trade represents a 0.68% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel A. Hudson sold 5,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $50.02, for a total transaction of $250,100.00. Following the transaction, the executive vice president directly owned 85,986 shares in the company, valued at approximately $4,301,019.72. The trade was a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 25,560 shares of company stock worth $1,074,858 over the last three months. 8.33% of the stock is currently owned by insiders.

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.