Cerity Partners LLC Invests $25.32 Million in Tidewater Inc. (NYSE:TDW)

Cerity Partners LLC purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 351,159 shares of the oil and gas company's stock, valued at approximately $25,322,000. Cerity Partners LLC owned approximately 0.66% of Tidewater as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TDW. Kingswood Wealth Advisors LLC acquired a new position in Tidewater in the fourth quarter valued at approximately $753,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Tidewater by 71.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 39,145 shares of the oil and gas company's stock worth $2,823,000 after buying an additional 16,338 shares during the period. Raymond James & Associates boosted its stake in shares of Tidewater by 47.7% during the fourth quarter. Raymond James & Associates now owns 114,984 shares of the oil and gas company's stock worth $8,291,000 after buying an additional 37,141 shares during the period. Redhawk Wealth Advisors Inc. lifted its position in Tidewater by 19.0% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 11,432 shares of the oil and gas company's stock valued at $824,000 after purchasing an additional 1,824 shares during the period. Finally, Woodstock Corp acquired a new stake in Tidewater in the fourth quarter valued at about $361,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Stock Performance

Shares of NYSE:TDW traded down $1.32 during trading on Friday, reaching $96.89. 694,440 shares of the company's stock traded hands, compared to its average volume of 757,461. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.80 and a quick ratio of 1.70. The company has a 50 day moving average of $82.01 and a 200-day moving average of $71.64. The stock has a market capitalization of $5.06 billion, a P/E ratio of 52.95 and a beta of 1.20. Tidewater Inc. has a 12 month low of $39.41 and a 12 month high of $101.10.

Tidewater (NYSE:TDW - Get Free Report) last released 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 business had revenue of $302.66 million during the quarter, compared to the consensus estimate of $309.46 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm's revenue for the quarter was up 62.1% compared to the same quarter last year. On average, equities analysts expect that Tidewater Inc. will post 4.94 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TDW. Evercore ISI raised their target price on shares of Tidewater from $87.00 to $89.00 and gave the stock an "outperform" rating in a research report on Monday, March 4th. BTIG Research lifted their price target on shares of Tidewater from $90.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, March 19th. Pickering Energy Partners initiated coverage on shares of Tidewater in a report on Tuesday, January 30th. They issued an "outperform" rating on the stock. Johnson Rice started coverage on shares of Tidewater in a report on Friday, February 9th. They issued a "buy" rating and a $88.00 price target on the stock. Finally, StockNews.com upgraded shares of 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 assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $93.00.

Insider Buying and Selling at Tidewater

In other Tidewater news, EVP Daniel A. Hudson sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total value 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 document filed with the SEC, which can be accessed through this link. In other Tidewater news, EVP Daniel A. Hudson sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total value of $656,000.00. Following the completion of the sale, the executive vice president now directly owns 104,312 shares of the company's stock, valued at $8,553,584. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Samuel R. Rubio sold 19,641 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 98,036 shares of the company's stock, valued at $7,976,208.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,462 shares of company stock worth $3,716,739. 9.59% of the stock is currently owned by company insiders.

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.