Villere ST Denis J & Co. LLC Sells 6,095 Shares of Tidewater Inc. (NYSE:TDW)

Villere ST Denis J & Co. LLC reduced its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 480,713 shares of the oil and gas company's stock after selling 6,095 shares during the quarter. Tidewater comprises about 2.0% of Villere ST Denis J & Co. LLC's portfolio, making the stock its 28th biggest position. Villere ST Denis J & Co. LLC owned 0.93% of Tidewater worth $20,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Tidewater in the 4th quarter valued at $4,347,000. Farther Finance Advisors LLC boosted its holdings in Tidewater by 94,555.6% in the first 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 fourth quarter worth about $32,388,000. GAMMA Investing LLC increased its position in Tidewater by 24,310.4% in the first quarter. GAMMA Investing LLC now owns 112,776 shares of the oil and gas company's stock worth $4,767,000 after purchasing an additional 112,314 shares during the period. Finally, Captrust Financial Advisors lifted its position in Tidewater by 26.5% during the 4th quarter. Captrust Financial Advisors now owns 6,659 shares of the oil and gas company's stock valued at $364,000 after purchasing an additional 1,394 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Insider Buying and Selling at Tidewater

In other Tidewater news, Director Robert Robotti acquired 15,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were acquired at an average price of $42.05 per share, with a total value of $630,750.00. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 25,560 shares of company stock worth $1,074,858 over the last quarter. Company insiders own 8.33% of the company's stock.

Tidewater Trading Up 3.3%

Shares of Tidewater stock traded up $1.50 during trading on Tuesday, hitting $47.63. 845,005 shares of the company were exchanged, compared to its average volume of 1,046,737. The firm has a market capitalization of $2.36 billion, a P/E ratio of 14.26 and a beta of 1.07. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $108.44. The firm's fifty day moving average price is $42.00 and its 200 day moving average price is $45.56. 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 data on Friday, May 9th. The oil and gas company reported $0.83 earnings per share 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 last year, the business posted $0.89 EPS. The firm's revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Raymond James Financial lowered their price target on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Three 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 presently has a consensus 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.