Tidewater Inc. (NYSE:TDW) Holdings Trimmed by River Road Asset Management LLC

River Road Asset Management LLC lowered its position in shares of Tidewater Inc. (NYSE:TDW) by 2.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 77,008 shares of the oil and gas company’s stock after selling 1,875 shares during the period. River Road Asset Management LLC’s holdings in Tidewater were worth $5,553,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TDW. Tower Research Capital LLC TRC boosted its stake in Tidewater by 36.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,021 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 270 shares in the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of Tidewater during the third quarter valued at $51,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Tidewater during the second quarter valued at $90,000. IFP Advisors Inc lifted its holdings in shares of Tidewater by 2,732.0% during the third quarter. IFP Advisors Inc now owns 1,416 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 1,366 shares during the last quarter. Finally, Comerica Bank purchased a new stake in shares of Tidewater during the third quarter valued at $146,000. Institutional investors own 95.13% of the company’s stock.

Tidewater Stock Down 0.2 %

Shares of Tidewater stock opened at $89.87 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.70 and a debt-to-equity ratio of 0.61. Tidewater Inc. has a 1 year low of $39.41 and a 1 year high of $101.10. The stock has a 50-day moving average price of $83.60 and a 200 day moving average price of $72.06. The company has a market cap of $4.70 billion, a P/E ratio of 49.21 and a beta of 1.20.

Tidewater (NYSE:TDW) last issued its earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.03). Tidewater had a return on equity of 13.37% and a net margin of 9.62%. The firm had revenue of $302.66 million during the quarter, compared to analyst estimates of $309.46 million. During the same period in the previous year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was up 62.1% on a year-over-year basis. As a group, analysts expect that Tidewater Inc. will post 4.94 EPS for the current fiscal year.

Tidewater declared that its Board of Directors has approved a share buyback plan on Thursday, February 29th that authorizes the company to buyback $48.60 million in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 1.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Pickering Energy Partners assumed coverage on Tidewater in a report on Tuesday, January 30th. They set an “outperform” rating for the company. Johnson Rice began coverage on Tidewater in a report on Friday, February 9th. They set a “buy” rating and a $88.00 target price for the company. Evercore ISI increased their price objective on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. BTIG Research increased 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. Finally, StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $93.00.

Insiders Place Their Bets

In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of the company’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 approximately $7,976,208.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of the company’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 approximately $7,976,208.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO David E. Darling sold 17,821 shares of the 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 transaction, the chief operating officer now directly owns 85,959 shares in the company, valued at approximately $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 valued at $3,716,739 in the last three months. Insiders own 9.59% of the company’s stock.

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.