Raymond James Financial Services Advisors Inc. Buys 16,338 Shares of Tidewater Inc. (NYSE:TDW)

Raymond James Financial Services Advisors Inc. raised its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 71.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,145 shares of the oil and gas company's stock after acquiring an additional 16,338 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.07% of Tidewater worth $2,823,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TDW. Tower Research Capital LLC TRC grew its stake in 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 purchasing an additional 270 shares in the last quarter. Ensign Peak Advisors Inc bought a new stake in shares of Tidewater in the 3rd quarter valued at approximately $51,000. FNY Investment Advisers LLC bought a new stake in shares of Tidewater in the 3rd quarter valued at approximately $71,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Tidewater in the second quarter worth approximately $90,000. Finally, IFP Advisors Inc raised its position in Tidewater by 2,732.0% during 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. Institutional investors and hedge funds own 95.13% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Tidewater

In other news, EVP Daniel A. Hudson sold 8,000 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total transaction of $656,000.00. Following the transaction, the executive vice president now owns 104,312 shares in the company, valued at approximately $8,553,584. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO David E. Darling sold 17,821 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 85,959 shares of the company's stock, valued at $7,055,514.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Daniel A. Hudson sold 8,000 shares of Tidewater stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $82.00, for a total transaction of $656,000.00. Following the sale, the executive vice president now owns 104,312 shares in the company, valued at approximately $8,553,584. The disclosure for this sale can be found here. Insiders sold a total of 45,462 shares of company stock valued at $3,716,739 in the last ninety days. Company insiders own 9.59% of the company's stock.

Tidewater Stock Performance

Shares of NYSE:TDW traded down $1.50 during midday trading on Tuesday, hitting $97.09. The company's stock had a trading volume of 503,167 shares, compared to its average volume of 785,111. Tidewater Inc. has a fifty-two week low of $39.41 and a fifty-two week high of $101.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.70 and a current ratio of 1.80. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 53.05 and a beta of 1.20. The stock's 50 day simple moving average is $80.15 and its 200 day simple moving average is $71.02.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly 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 business 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 earned $0.30 earnings per share. The firm's quarterly revenue was up 62.1% compared to the same quarter last year. As a group, research analysts anticipate that Tidewater Inc. will post 4.94 earnings per share for the current year.

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

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.