Villere ST Denis J & Co. LLC Cuts Stock Holdings in Tidewater Inc. (NYSE:TDW)

Villere ST Denis J & Co. LLC lowered its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 480,713 shares of the oil and gas company's stock after selling 6,095 shares during the period. Tidewater accounts for approximately 2.0% of Villere ST Denis J & Co. LLC's portfolio, making the stock its 28th largest holding. Villere ST Denis J & Co. LLC owned 0.93% of Tidewater worth $20,320,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC increased its holdings in shares of Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock worth $44,000 after purchasing an additional 511 shares during the period. Headlands Technologies LLC bought a new position in shares of Tidewater in the fourth quarter worth $53,000. EverSource Wealth Advisors LLC increased its holdings in shares of Tidewater by 45.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock worth $58,000 after purchasing an additional 333 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of Tidewater by 336.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company's stock worth $87,000 after purchasing an additional 1,224 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Tidewater by 54.9% in the fourth quarter. Covestor Ltd now owns 1,819 shares of the oil and gas company's stock worth $100,000 after purchasing an additional 645 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.

Tidewater Price Performance

TDW traded up $0.31 during trading on Friday, reaching $46.97. The stock had a trading volume of 1,601,731 shares, compared to its average volume of 1,048,449. The stock has a market cap of $2.32 billion, a PE ratio of 14.06 and a beta of 1.07. 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 Inc. has a one year low of $31.17 and a one year high of $108.44. The business has a 50-day moving average of $41.74 and a 200-day moving average of $45.58.

Tidewater (NYSE:TDW - Get Free Report) last released its earnings results on Friday, May 9th. The oil and gas company reported $0.83 EPS 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%. The company's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 EPS. As a group, equities research analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insider Activity at Tidewater

In other Tidewater news, Director Robert Robotti purchased 10,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was acquired at an average cost of $42.14 per share, for a total transaction of $421,400.00. Following the completion of the transaction, the director now directly owns 2,219,957 shares in the company, valued at approximately $93,548,987.98. This represents a 0.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have bought a total of 25,560 shares of company stock valued at $1,074,858 over the last 90 days. 8.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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 research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Tidewater currently has a consensus rating of "Hold" and a consensus price target of $69.33.

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.