Tidewater Inc. (NYSE:TDW) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC trimmed its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 36.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,946 shares of the oil and gas company's stock after selling 60,719 shares during the period. Naviter Wealth LLC owned 0.21% of Tidewater worth $4,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Tidewater in the 4th quarter valued at about $4,347,000. Farther Finance Advisors LLC grew its stake in Tidewater by 94,555.6% in the 1st quarter. Farther Finance Advisors LLC now owns 8,519 shares of the oil and gas company's stock valued at $366,000 after acquiring an additional 8,510 shares during the last quarter. Norges Bank acquired a new stake in Tidewater in the 4th quarter valued at about $32,388,000. GAMMA Investing LLC grew its stake in Tidewater by 24,310.4% in the 1st quarter. GAMMA Investing LLC now owns 112,776 shares of the oil and gas company's stock valued at $4,767,000 after acquiring an additional 112,314 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in Tidewater by 26.5% in the 4th quarter. Captrust Financial Advisors now owns 6,659 shares of the oil and gas company's stock valued at $364,000 after acquiring an additional 1,394 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Tidewater Price Performance

Tidewater stock opened at $46.97 on Friday. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $108.44. The stock has a market capitalization of $2.32 billion, a P/E ratio of 14.06 and a beta of 1.07. The firm's 50-day moving average is $41.74 and its two-hundred day moving average is $45.58. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 2.00.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, topping 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 in the previous year, the company posted $0.89 EPS. Tidewater's quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Robert Robotti bought 15,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 2,234,957 shares of the company's stock, valued at approximately $93,979,941.85. The trade was a 0.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought 25,560 shares of company stock valued at $1,074,858 in the last ninety days. Insiders own 8.33% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial decreased their price target 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus 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.

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