Tidewater Inc. (NYSE:TDW) Shares Sold by Cerity Partners LLC

Cerity Partners LLC trimmed its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 503,355 shares of the oil and gas company's stock after selling 32,507 shares during the period. Cerity Partners LLC owned about 0.98% of Tidewater worth $21,277,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of Tidewater in the fourth quarter worth approximately $4,347,000. GAMMA Investing LLC lifted its position in Tidewater by 477.5% during the first quarter. GAMMA Investing LLC now owns 2,668 shares of the oil and gas company's stock worth $113,000 after buying an additional 2,206 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Tidewater by 94,555.6% during the first quarter. Farther Finance Advisors LLC now owns 8,519 shares of the oil and gas company's stock worth $366,000 after buying an additional 8,510 shares in the last quarter. Spire Wealth Management lifted its position in Tidewater by 14.3% during the first quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company's stock worth $168,000 after buying an additional 498 shares in the last quarter. Finally, Norges Bank purchased a new position in Tidewater during the fourth quarter worth approximately $32,388,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Tidewater Trading Down 3.2%

NYSE:TDW traded down $1.70 on Monday, reaching $50.91. The company's stock had a trading volume of 161,946 shares, compared to its average volume of 1,086,818. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $108.44. The company has a quick ratio of 2.00, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 15.22 and a beta of 1.08. The stock has a 50 day moving average price of $44.44 and a 200 day moving average price of $45.56.

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities analysts recently 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 research report on Wednesday, May 7th. BTIG Research reiterated a "neutral" rating on shares of Tidewater in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.