NYSE:TDW - Free Report ) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 243,336 shares of the oil and gas company's stock after buying an additional 28,223 shares during the period. Tidewater makes up approximately 1.0% of Montag A & Associates Inc.'s holdings, making the stock its 25th largest holding. Montag A & Associates Inc. owned about 0.46% of Tidewater worth $17,547,000 as of its most recent SEC filing.
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A number of other hedge funds also recently bought and sold shares of the business. Parkside Financial Bank & Trust purchased a new stake in shares of Tidewater in the 4th quarter worth $33,000. Spire Wealth Management grew its position in Tidewater by 608.4% in the fourth quarter. Spire Wealth Management now owns 1,771 shares of the oil and gas company's stock worth $121,000 after acquiring an additional 1,521 shares in the last quarter. Xponance Inc. purchased a new position in Tidewater in the fourth quarter worth about $204,000. Private Advisor Group LLC bought a new stake in Tidewater in the fourth quarter worth about $210,000. Finally, Evergreen Capital Management LLC bought a new stake in Tidewater in the third quarter worth about $219,000. Hedge funds and other institutional investors own 95.13% of the company's stock.
Insiders Place Their Bets In other news, CEO Quintin Kneen sold 150,000 shares of Tidewater stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $109.01, for a total value of $16,351,500.00. Following the sale, the chief executive officer now owns 501,718 shares of the company's stock, valued at $54,692,279.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink . In other news, COO David E. Darling sold 17,821 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $82.08, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link . Also, CEO Quintin Kneen sold 150,000 shares of the business's stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $109.01, for a total transaction of $16,351,500.00. Following the completion of the transaction, the chief executive officer now directly owns 501,718 shares of the company's stock, valued at approximately $54,692,279.18. The disclosure for this sale can be found here . In the last three months, insiders have sold 266,479 shares of company stock valued at $27,767,870. Insiders own 9.59% of the company's stock.
Wall Street Analyst Weigh In Several analysts have recently weighed in on TDW shares. Evercore ISI lifted their price target on shares of Tidewater from $87.00 to $89.00 and gave the company an "outperform" rating in a research note on Monday, March 4th. Pickering Energy Partners started coverage on shares of Tidewater in a research note on Tuesday, January 30th. They issued an "outperform" rating for the company. Johnson Rice started coverage on shares of Tidewater in a research note on Friday, February 9th. They issued a "buy" rating and a $88.00 price objective for the company. BTIG Research boosted their price objective on shares of Tidewater from $110.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday. Finally, StockNews.com raised shares of Tidewater from a "sell" rating to a "hold" rating in a research note on Monday, March 4th. One 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $98.00.
Read Our Latest Stock Analysis on TDW
Tidewater Trading Down 2.1 % Shares of Tidewater stock traded down $2.21 during mid-day trading on Friday, hitting $104.76. The stock had a trading volume of 803,997 shares, compared to its average volume of 711,044. The firm has a 50-day moving average of $92.32 and a two-hundred day moving average of $75.23. Tidewater Inc. has a 12-month low of $42.61 and a 12-month high of $111.42. The company has a quick ratio of 1.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a market cap of $5.53 billion, a P/E ratio of 41.74 and a beta of 1.21.
Tidewater (NYSE:TDW - Get Free Report ) last announced its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.40. The business had revenue of $321.20 million for the quarter, compared to analyst estimates of $312.05 million. Tidewater had a net margin of 11.73% and a return on equity of 16.24%. The company's revenue was up 66.3% on a year-over-year basis. During the same period last year, the business earned $0.23 EPS. Sell-side analysts forecast that Tidewater Inc. will post 4.68 earnings per share for the current year.
Tidewater announced that its board has initiated a share 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 repurchase up to 1.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.
About Tidewater (
Free Report )
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.
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