Sheets Smith Wealth Management Buys Shares of 7,068 Tidewater Inc. (NYSE:TDW)

Sheets Smith Wealth Management bought a new position in Tidewater Inc. (NYSE:TDW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,068 shares of the oil and gas company's stock, valued at approximately $510,000.

A number of other hedge funds also recently made changes to their positions in TDW. SG Americas Securities LLC grew its position in Tidewater by 161.0% in the third quarter. SG Americas Securities LLC now owns 7,214 shares of the oil and gas company's stock valued at $513,000 after acquiring an additional 4,450 shares during the period. Commonwealth Equity Services LLC bought a new position in shares of Tidewater during the third quarter worth approximately $1,972,000. Raymond James & Associates boosted its stake in Tidewater by 158.1% in the 3rd quarter. Raymond James & Associates now owns 77,843 shares of the oil and gas company's stock valued at $5,532,000 after purchasing an additional 47,686 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Tidewater during the 3rd quarter worth $1,621,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Tidewater by 7.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,711 shares of the oil and gas company's stock worth $1,543,000 after acquiring an additional 1,412 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TDW. StockNews.com upgraded Tidewater from a "sell" rating to a "hold" rating in a report on Monday, March 4th. Pickering Energy Partners initiated coverage on Tidewater in a research note on Tuesday, January 30th. They issued an "outperform" rating on the stock. Evercore ISI increased their target price on shares of Tidewater from $87.00 to $89.00 and gave the company an "outperform" rating in a research report on Monday, March 4th. Johnson Rice began coverage on shares of Tidewater in a research note on Friday, February 9th. They issued a "buy" rating and a $88.00 price objective on the stock. Finally, BTIG Research lifted their target price on shares of Tidewater from $90.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $93.00.

Insider Activity

In other Tidewater news, EVP Daniel A. Hudson sold 8,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 104,312 shares of the company's stock, valued at approximately $8,553,584. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Daniel A. Hudson sold 8,000 shares of the stock in a transaction 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 of the company's stock, valued at approximately $8,553,584. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO David E. Darling sold 17,821 shares of the company's stock in a transaction dated 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 owns 85,959 shares of the company's stock, valued at $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 ninety days. Company insiders own 9.59% of the company's stock.

Tidewater Stock Performance

Shares of NYSE TDW traded up $0.78 during mid-day trading on Monday, reaching $107.29. 748,126 shares of the company's stock were exchanged, compared to its average volume of 771,310. The firm has a 50-day moving average price of $89.44 and a two-hundred day moving average price of $74.26. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.74. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 42.63 and a beta of 1.21. Tidewater Inc. has a 52 week low of $40.65 and a 52 week high of $109.66.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.40. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. The company had revenue of $321.20 million during the quarter, compared to the consensus estimate of $312.05 million. During the same quarter in the prior year, the company earned $0.23 EPS. The firm's quarterly revenue was up 66.3% compared to the same quarter last year. Analysts predict that Tidewater Inc. will post 4.94 EPS for the current year.

Tidewater declared that its board has approved a stock buyback program on Thursday, February 29th that authorizes the company to repurchase $48.60 million in outstanding 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 programs are typically an indication that the company's management 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.