Cookson Peirce & Co. Inc. Sells 168 Shares of Tidewater Inc. (NYSE:TDW)

Cookson Peirce & Co. Inc. lessened its holdings in shares of Tidewater Inc. (NYSE:TDW) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,929 shares of the oil and gas company’s stock after selling 168 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Tidewater were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Tidewater by 0.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,099,470 shares of the oil and gas company’s stock worth $298,466,000 after purchasing an additional 20,599 shares in the last quarter. Vanguard Group Inc. raised its holdings in Tidewater by 37.9% in 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 in the last quarter. BlackRock Inc. raised its holdings in Tidewater by 8.4% in the third quarter. BlackRock Inc. now owns 2,967,847 shares of the oil and gas company’s stock worth $64,403,000 after purchasing an additional 230,701 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Tidewater by 16.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,823,664 shares of the oil and gas company’s stock worth $80,389,000 after purchasing an additional 263,179 shares in the last quarter. Finally, State Street Corp raised its holdings in Tidewater by 12.9% in the first quarter. State Street Corp now owns 1,395,610 shares of the oil and gas company’s stock worth $61,518,000 after purchasing an additional 159,961 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Tidewater Trading Down 2.3 %

Tidewater stock opened at $90.06 on Thursday. 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 Inc. has a one year low of $39.41 and a one year high of $101.10. The stock has a market capitalization of $4.71 billion, a PE ratio of 49.21 and a beta of 1.20. The business’s fifty day moving average is $83.60 and its 200 day moving average is $72.06.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Friday, March 1st. The oil and gas company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.03). Tidewater had a net margin of 9.62% and a return on equity of 13.37%. The business had revenue of $302.66 million for the quarter, compared to analysts’ expectations of $309.46 million. During the same period last year, the business earned $0.30 earnings per share. The company’s quarterly revenue was up 62.1% on a year-over-year basis. On average, sell-side analysts predict that Tidewater Inc. will post 4.94 EPS for the current year.

Tidewater declared that its board has approved a stock repurchase 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Tidewater

In other Tidewater 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 value of $1,597,991.76. Following the transaction, the chief financial officer now directly owns 98,036 shares of the company’s stock, valued at $7,976,208.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tidewater 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 value of $1,597,991.76. Following the transaction, the chief financial officer now directly owns 98,036 shares of the company’s stock, valued at $7,976,208.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel A. Hudson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was 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 in the company, valued at $8,553,584. The disclosure for this sale can be found here. Insiders have sold 45,462 shares of company stock valued at $3,716,739 over the last ninety days. Insiders own 9.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TDW. Evercore ISI increased 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. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Pickering Energy Partners began coverage on Tidewater in a research note on Tuesday, January 30th. They issued an “outperform” rating on the stock. BTIG Research increased their target price on Tidewater from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, Johnson Rice began coverage on Tidewater in a research note on Friday, February 9th. They issued a “buy” rating and a $88.00 target price on the stock. One 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. Based on data from MarketBeat, the stock presently 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.