Tidewater Inc. (NYSE:TDW) Position Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 52.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,287 shares of the oil and gas company's stock after selling 71,511 shares during the period. Assenagon Asset Management S.A. owned about 0.12% of Tidewater worth $4,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of Tidewater during the third quarter worth $71,000. Tower Research Capital LLC TRC raised its stake in shares of Tidewater by 36.0% in the first quarter. Tower Research Capital LLC TRC now owns 1,021 shares of the oil and gas company's stock valued at $45,000 after acquiring an additional 270 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Tidewater by 2,732.0% in the third quarter. IFP Advisors Inc now owns 1,416 shares of the oil and gas company's stock valued at $101,000 after acquiring an additional 1,366 shares in the last quarter. Comerica Bank acquired a new stake in shares of Tidewater in the third quarter valued at $146,000. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Tidewater in the third quarter valued at $51,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Stock Up 2.0 %

Tidewater stock traded up $1.80 during midday trading on Monday, reaching $93.80. The company's stock had a trading volume of 603,971 shares, compared to its average volume of 771,053. The business has a 50-day simple moving average of $77.12 and a 200-day simple moving average of $69.70. The company has a quick ratio of 1.70, a current ratio of 1.80 and a debt-to-equity ratio of 0.61. Tidewater Inc. has a fifty-two week low of $39.41 and a fifty-two week high of $95.15. The company has a market cap of $4.90 billion, a P/E ratio of 51.26 and a beta of 1.20.

Tidewater (NYSE:TDW - Get Free Report) last posted its earnings results on Friday, March 1st. The oil and gas company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.03). Tidewater had a return on equity of 13.37% and a net margin of 9.62%. The firm had revenue of $302.66 million for the quarter, compared to analyst estimates of $309.46 million. During the same quarter last year, the firm posted $0.30 EPS. The firm's revenue for the quarter was up 62.1% on a year-over-year basis. On average, research analysts expect that Tidewater Inc. will post 4.94 earnings per share for the current fiscal year.

Tidewater announced that its board has authorized a share buyback plan on Thursday, February 29th that allows the company to repurchase $48.60 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 1.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Tidewater

In other news, CFO Samuel R. Rubio sold 19,641 shares of Tidewater stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the sale, the chief financial officer now owns 98,036 shares in the company, valued at $7,976,208.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Samuel R. Rubio sold 19,641 shares of the firm's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the transaction, the chief financial officer now owns 98,036 shares of the company's stock, valued at $7,976,208.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO David E. Darling sold 17,821 shares of the firm's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total value of $1,462,747.68. Following the transaction, the chief operating officer now directly owns 85,959 shares in the company, valued at approximately $7,055,514.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,462 shares of company stock worth $3,716,739. Corporate insiders own 9.59% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TDW shares. Evercore ISI increased their price objective on Tidewater from $87.00 to $89.00 and gave the company an "outperform" rating in a research note on Monday, March 4th. Pickering Energy Partners started coverage on Tidewater in a research note on Tuesday, January 30th. They issued an "outperform" rating on the stock. BTIG Research increased their price objective on Tidewater from $90.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, March 19th. StockNews.com upgraded Tidewater from a "sell" rating to a "hold" rating in a research note on Monday, March 4th. Finally, Johnson Rice assumed coverage on Tidewater in a research note on Friday, February 9th. They issued a "buy" rating and a $88.00 price target on the stock. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tidewater presently has an average rating of "Buy" and an average price target of $93.00.

About Tidewater

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.