Calamos Advisors LLC Has $719,000 Stock Position in Tidewater Inc. (NYSE:TDW)

Calamos Advisors LLC lessened its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 81.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,971 shares of the oil and gas company's stock after selling 43,152 shares during the period. Calamos Advisors LLC's holdings in Tidewater were worth $719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Tidewater by 37.9% during the third quarter. Vanguard Group Inc. now owns 3,798,600 shares of the oil and gas company's stock worth $269,967,000 after purchasing an additional 1,043,804 shares during the period. FMR LLC lifted its holdings in Tidewater by 1,294.4% in the third quarter. FMR LLC now owns 1,064,896 shares of the oil and gas company's stock valued at $75,682,000 after acquiring an additional 988,528 shares during the period. Cerity Partners LLC acquired a new position in Tidewater in the fourth quarter valued at approximately $25,322,000. Victory Capital Management Inc. increased its position in shares of Tidewater by 1,514.0% in the third quarter. Victory Capital Management Inc. now owns 258,849 shares of the oil and gas company's stock valued at $18,396,000 after buying an additional 242,811 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Tidewater by 182.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 371,181 shares of the oil and gas company's stock worth $26,380,000 after buying an additional 239,761 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Tidewater Trading Down 0.3 %

Shares of TDW traded down $0.25 during midday trading on Monday, reaching $89.26. The company had a trading volume of 678,858 shares, compared to its average volume of 764,063. Tidewater Inc. has a 1-year low of $39.41 and a 1-year high of $101.10. The stock has a market cap of $4.67 billion, a PE ratio of 48.78 and a beta of 1.20. The firm has a 50 day simple moving average of $84.86 and a 200-day simple moving average of $72.59. 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 released its quarterly earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.03). The business had revenue of $302.66 million for the quarter, compared to analysts' expectations of $309.46 million. Tidewater had a return on equity of 13.37% and a net margin of 9.62%. The business's revenue for the quarter was up 62.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.30 earnings per share. Research analysts forecast that Tidewater Inc. will post 4.94 EPS for the current fiscal year.

Tidewater declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 29th that authorizes the company to repurchase $48.60 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 1.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TDW shares. Evercore ISI upped their target price on Tidewater from $87.00 to $89.00 and gave the stock an "outperform" rating in a research note on Monday, March 4th. Johnson Rice started coverage on Tidewater in a research note on Friday, February 9th. They set a "buy" rating and a $88.00 target price for the company. StockNews.com raised Tidewater from a "sell" rating to a "hold" rating in a research note on Monday, March 4th. Pickering Energy Partners initiated coverage on Tidewater in a research note on Tuesday, January 30th. They issued an "outperform" rating for the company. Finally, 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. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $93.00.

Insider Transactions at Tidewater

In other news, COO David E. Darling sold 17,821 shares of the stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 85,959 shares in the company, valued at approximately $7,055,514.72. The transaction was disclosed in a document filed with the SEC, which is accessible 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 completion of the transaction, the chief financial officer now directly owns 98,036 shares in the company, valued at approximately $7,976,208.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David E. Darling sold 17,821 shares of Tidewater stock in a transaction dated Tuesday, March 5th. The shares were 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 owns 85,959 shares of the company's stock, valued at approximately $7,055,514.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,462 shares of company stock worth $3,716,739. 9.59% of the stock is currently owned by company insiders.

Tidewater 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.