Allianz Asset Management GmbH Cuts Position in Tidewater Inc. (NYSE:TDW)

Allianz Asset Management GmbH trimmed its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 approximately 0.14% of Tidewater worth $2,940,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TDW. Commonwealth Equity Services LLC purchased a new position in Tidewater during the 4th quarter worth $293,000. American Century Companies Inc. increased its holdings in Tidewater by 64.7% during the 4th quarter. American Century Companies Inc. now owns 47,523 shares of the oil and gas company's stock worth $2,600,000 after purchasing an additional 18,673 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Tidewater during the 4th quarter worth $131,000. LPL Financial LLC increased its holdings in Tidewater by 23.2% during the 4th quarter. LPL Financial LLC now owns 6,944 shares of the oil and gas company's stock worth $380,000 after purchasing an additional 1,309 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Tidewater by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company's stock worth $300,155,000 after purchasing an additional 56,919 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Raymond James Financial reduced their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. BTIG Research cut Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $69.33.

Insider Transactions at Tidewater

In related news, Director Robert Robotti acquired 15,000 shares of Tidewater stock in a transaction on Wednesday, June 4th. The stock was acquired at an average price of $42.05 per share, for a total transaction of $630,750.00. Following the purchase, the director owned 2,234,957 shares of the company's stock, valued at approximately $93,979,941.85. This represents a 0.68% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel A. Hudson sold 5,000 shares of Tidewater stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $50.02, for a total value of $250,100.00. Following the transaction, the executive vice president owned 85,986 shares of the company's stock, valued at $4,301,019.72. The trade was a 5.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 25,560 shares of company stock valued at $1,074,858. 8.33% of the stock is currently owned by insiders.

Tidewater Stock Down 5.0%

NYSE TDW traded down $2.50 during midday trading on Friday, hitting $47.51. 930,685 shares of the company traded hands, compared to its average volume of 772,014. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 2.00. The company has a market cap of $2.35 billion, a PE ratio of 14.22 and a beta of 1.08. The company's 50-day simple moving average is $47.18 and its 200-day simple moving average is $45.15. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $91.76.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.24. Tidewater had a return on equity of 15.97% and a net margin of 12.98%. During the same period in the previous year, the business posted $0.89 earnings per share. Tidewater's revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current year.

Tidewater 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.