Raymond James & Associates Has $8.29 Million Stake in Tidewater Inc. (NYSE:TDW)

Raymond James & Associates raised its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 47.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,984 shares of the oil and gas company's stock after purchasing an additional 37,141 shares during the quarter. Raymond James & Associates owned 0.22% of Tidewater worth $8,291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its position in shares of Tidewater by 36.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,021 shares of the oil and gas company's stock worth $45,000 after purchasing an additional 270 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of Tidewater during the 3rd quarter worth approximately $51,000. FNY Investment Advisers LLC acquired a new position in shares of Tidewater during the 3rd quarter worth approximately $71,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Tidewater during the 2nd quarter worth approximately $90,000. Finally, IFP Advisors Inc raised its position in shares of Tidewater by 2,732.0% during the 3rd quarter. IFP Advisors Inc now owns 1,416 shares of the oil and gas company's stock worth $101,000 after purchasing an additional 1,366 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

Insider Buying and Selling

In related news, CFO Samuel R. Rubio sold 19,641 shares of the stock in a transaction dated Tuesday, March 5th. The shares were 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 document filed with the SEC, which is available through this hyperlink. In related news, CFO Samuel R. Rubio sold 19,641 shares of the stock in a transaction dated Tuesday, March 5th. The shares were 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 document filed with the SEC, which is available through this hyperlink. Also, COO David E. Darling sold 17,821 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total transaction of $1,462,747.68. Following the sale, the chief operating officer now owns 85,959 shares in the company, valued at approximately $7,055,514.72. The disclosure for this sale can be found here. Insiders have sold a total of 45,462 shares of company stock worth $3,716,739 over the last quarter. 9.59% of the stock is owned by company insiders.

Tidewater Trading Up 0.7 %

Shares of NYSE TDW traded up $0.68 during trading on Friday, hitting $98.70. 1,135,730 shares of the company traded hands, compared to its average volume of 805,759. Tidewater Inc. has a 1 year low of $39.41 and a 1 year high of $101.10. The company has a 50-day moving average price of $79.09 and a 200-day moving average price of $70.57. The firm has a market capitalization of $5.16 billion, a P/E ratio of 53.93 and a beta of 1.20. 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 (NYSE:TDW - Get Free Report) last issued its earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.03). The company had revenue of $302.66 million during the quarter, compared to analyst estimates of $309.46 million. Tidewater had a net margin of 9.62% and a return on equity of 13.37%. The business's revenue for the quarter was up 62.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. On average, equities analysts predict that Tidewater Inc. will post 4.94 EPS for the current year.

Tidewater declared that its board has approved a stock repurchase program on Thursday, February 29th that permits the company to repurchase $48.60 million in shares. This repurchase authorization permits the oil and gas company to reacquire up to 1.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.