Tidewater Inc. (NYSE:TDW) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC reduced its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 295,814 shares of the oil and gas company's stock after selling 20,000 shares during the quarter. Tidewater makes up 4.3% of Naviter Wealth LLC's portfolio, making the stock its 2nd biggest holding. Naviter Wealth LLC owned approximately 0.56% of Tidewater worth $21,331,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TDW. Parkside Financial Bank & Trust purchased a new position in Tidewater in the fourth quarter valued at about $33,000. IFP Advisors Inc increased its position in Tidewater by 2,732.0% in the 3rd 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 during the period. Xponance Inc. acquired a new stake in Tidewater in the 4th quarter valued at approximately $204,000. Evergreen Capital Management LLC acquired a new stake in Tidewater in the 3rd quarter valued at approximately $219,000. Finally, Precision Wealth Strategies LLC bought a new position in Tidewater during the 3rd quarter valued at $221,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Trading Up 0.4 %

Shares of Tidewater stock traded up $0.37 on Monday, hitting $96.09. 480,529 shares of the company's stock traded hands, compared to its average volume of 749,483. The firm's 50-day moving average price is $86.90 and its two-hundred day moving average price is $73.30. The stock has a market capitalization of $5.02 billion, a PE ratio of 52.50 and a beta of 1.20. Tidewater Inc. has a one year low of $39.41 and a one year high of $101.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.80 and a quick ratio of 1.70.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.03). The firm 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%. Tidewater's quarterly revenue was up 62.1% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. On average, research analysts expect that Tidewater Inc. will post 4.94 EPS for the current fiscal year.

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

Insider Transactions at Tidewater

In other news, EVP Daniel A. Hudson sold 8,000 shares of the 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 completion of the transaction, the executive vice president now directly 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 is available at this link. In other Tidewater news, EVP Daniel A. Hudson sold 8,000 shares of the stock in a transaction dated 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 directly owns 104,312 shares of the company's stock, valued at approximately $8,553,584. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief financial officer now directly owns 98,036 shares in the company, valued at $7,976,208.96. The disclosure for this sale can be found here. Insiders sold a total of 45,462 shares of company stock worth $3,716,739 in the last three months. Insiders own 9.59% of the company's stock.

Wall Street Analysts Forecast Growth

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